holdings in gold stocks a positve, page-8

nk on checking TTRs holding in Silverlake it appears they may have disposed some or all of this holding (they were only in escrow for 4 months) looking at the Annual Report a sale of investmets during the year brought in $1.9m which would have been a good return if all from sale of SLR shares. (initial value at issue price $1m)

So it might be that TTR are now only holding ATV Gold Corp Shares and Warrants worth $3.1m (June 30 2008). This value would have declined significantly over recent months as ATVs share price fell. Last Quarterly reported value of investments at only $1m plus $2.34m cash. TTR held 2,250,000 shares and 2,250,000 Warrants (79cent strike price)in ATV. Their total value could have very well dropped to about $1m (shares went down to about 30 cents at end of Sept 08 from 80 plus cents at end of June 08). However, the share price is now moving up strongly again from recent lows. Up 9cents to 49 cents on last trading day of 2008 on the TSX. So we could be seeing a handy rebound in value along with the other gold stocks.

Half Yearly report will give us a good idea of TTRs current position in terms of cash and investments. My guess is they will be down to about $1.5m in cash but investments could be back to around $2m. If they are holding $3m plus in total this should be enough to get them through the current tough times.