Post by
rborhi on Jan 18, 2010 12:12pm
Good or no?
We're being bought out by a 3 cent/share company and only getting 0.8 of their shares for one of ours.
Total shares outstanding afterwards will be close to 800 million - lol.
On the positive side, mines are opening up, they're talking about Brauna being a producer (before bulk sampling results even), and they have 11 million in cash. Also some interest in a copper/gold property. They say they can fund everything on their own without further dilution to shareholders. I guess we'll see, but I'd rather have been bought out by a major at a premium.
Comment by
rojo1 on Jan 18, 2010 1:00pm
In consideration of the fact that the next step for VAA was to either sell assests (from a very disadvantaged position) or drop off the board completely this is better than nothing. It is still a 20% kick in the a$$ for us today anyway you look at it. The mine reopening and income being produced for this company is the only way we will recoupe anything. So for now I say go TOI go.
Comment by
ozramesh on Jan 18, 2010 6:00pm
Agree with you rojo. Some news is better than no news, but this one came with a punch to the face...ouch! I hope TIO will rouse the rabble, sure would be much better than a management that was near dead.....me say go TIO go!
Comment by
Kooler on Jan 19, 2010 9:49am
In addition to the gold and copper properties, TIO also have about 14% of the world known Titanium reserves in Kenya which has been written off, for now. With the new discovery of efficiently producing Rare Earth Elements as a by-product of Titanium oxides, TIO is also a potential REE play.
Comment by
ozramesh on Jan 19, 2010 8:48pm
I am not sure if they were in a position to bargain, had VAA insisted on more than 3c....may be there would've been no deal....and down the rabbit hole she would've gone.go TIO go....