Too right Poet, totally agree (re your last sentence). Cannot...

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pumpa

234 Posts.

19/09/14

09:44

Post #: 13998538
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Originally posted by PoetPlus ↑

Originally Azul would only become the property of TRI after drilling 10,000m, progress payments amounting to $850,000 , plus a $3m final payment, plus a NSR to the Owner.

As far as I am aware, none of the above have been complied with totally. Only a small part.

So did the Owner simply hand Azul over to TRI out of the goodness of their heart?? an act of pure generosity?? It does happen I guess.. charity...but it is rare.

The announcement might suggest complete Ownership of Azul... so can I assume it has been gifted to TRI for free. The 100% subsiduary claims to be "the owner of the Azul tin project".

On the other hand, should one interpret "The Azul tin project" as the set of conditions still current with the Owner, and still Very onerous in terms of cash payments and drilling??????

I think an in-depth analysis of the deal is needed before jumping in and declaring it God's gift to shareholders. Demonstrate why it is good, prove it, (rather than automatically endorse it without understanding it fully) .. THEN say it is great based on reasoning.

Where is the cash it brings in immediately to support potash drilling.? Lots of paper shuffled around. Some "sale".

Shares in the proposed Canadian listed company still carry an obligation to subscribe capital for tin exploration etc, and on-going cash payments to Owner perhaps?? It consumes capital, does not generate it. TRI is not free-carried.

2433533 Ontario Inc indeed!!

Who is 2433533?

What is the significance of that mystery number? Whose girlfriend has that phone number I wonder? Is it the expected annual profit from Azul divided by 10?

I prefer successful drilling results to cryptic crosswords..

.. all very strange.... and confusing... but good fun though!! A Potash Puzzle.

As for "Prior to this, Triumph endured a sustained period of relative inactivity which saw little exploration and no strategic direction". If that wasn't a swipe at the previous board, nothing was. Talk about un-gentlemanly. And no right of reply! geez. In the old days, that would have meant a duel... blunderbusses at 10 paces etc.

Most uncalled for and unnecessary... and disappointing. It does nobody credit. If it wasn't for the Old Board, there would be NO Azul to do a deal on.. after all.

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Too right Poet, totally agree (re your last sentence). Cannot believe they would make that statement publicly. And I'm surprised that a guy like Luis Azevedo would want anything to do with TRI or VOR given he is firmly entrenched with AVB.

TRI Price at posting: 1.5¢ Sentiment: None Disclosure: Not Held
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