I am going to be a shameless copy and paster ! This comes from another TGS shareholder who contacted the company - copy of the letter below.
As for SP - It is disapointing but does not change the fundamentals of what Tiger sits on and promises. I think some punters are a little rattled over CAMEC losing license - but these folk dont understand the DRC. Multinationals who hold legit permits under UN and World Bank sponsored mining legistlation are OK. CAMEC and there dirty dealings and mercenaries are in the days past. They should be stripped of their stolen property and banned from the DRC. In fact they are. Is Tiger at risk - well would BHP,RIO,Freeport,DeBeers,Anglo,Barrick,Goldfields and a host of others take up leases and pour $$$$ into the place (all near Tiger) . I think not - the big boys have better vision than daytraders. Anvil is spending $300m in SXEW plant down the road from Tiger. Freeport spending USD 1.2bn and Komota USD 1bn. I guesse they did some homework and believe their leases are inviolate.
the other reason for sp blues may the outbreak of Marburg in Central DRC. A nasty virus but not one that effects the Katanga province in the South where TGS sits. Also manageble for any operation that has basic medical, and not a project risk. Malaria is a much more serious issue for the miners.
Anyway enough from this cheer squad. Letter below:
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Dear XXXX
Your thoughts that you sent to us via fax this morning are totally valid. Let me address them one-by-one. Let me also apologise for my response instead of our MD David Young who is in transit to the Democratic Republic of the Congo as we speak.
The share price is disappointing at the moment. This is a result of a number of factors, one which you have already highlighted, the lack of information. The price was trending down over the last couple of weeks prior to the correction which resulted from the US sub-prime issues. It has not made any real headway since that time for other reasons which have impacted our and other prospective copper producers in the DRC. The Katanga Provincial Government have retracted production permits/exploration licences to CAMEC and Savannah Mining both of whom have relationships to the former MD of Gecamines (the Provincial Government’s mining company), Mr Billy Rautenbach. He has been declared a persona non grata in the DRC because of alleged irregularities.
This has impacted a number of companies in the DRC as we and others ensure that we are not impacted and that the matter of the licences is only in relation to Mr Rautenbach. This was not good timing on behalf of the DRC with the volatility of the markets as they are.
You are totally correct to be disappointed with the lack of flow of information. We have had real issues in getting core and bulk samples dealt with because of the pressures that the analytical laboratories are under globally. We are now plus 50 days and still waiting for our samples to be analysed and results sent to us. We have made overtures to the laboratory who have our samples, ALS Chemex in Johannesburg, and they have informed us that they are putting new machines in place to deal with their backlogged services and indeed are flying some of our samples to Perth in WA to assist in a faster turn-around time.
We had hoped to get a batch of results, including another very good one, out late last week, but this has had to be postponed until this week. If we do not get the sample results confirmed this week, we will issue a statement informing our shareholders of the delays and providing them with at least some information. Once we get the first of these backlogged samples through, it is expected that we should have a continuous stream of information for several months, and we expect this to have significant impacts on Tiger Resource’s share price.
In all, a litany of excuses, but certainly some of them out of our control. For those over which we do have control we accept your criticism as perfectly fair and valid. We certainly value our shareholders, and this I believe has been shown with our initiative to provide quarterly shareholders newsletter which will go beyond just a rehash of the quarterly report.
Please feel free to contact me at any point if you wish to discuss your Company’s performance or seek further information that I am able to provide. Rest assured, that the heavy hitters in the market place have considerable faith in the future for Tiger Resources.
I will have an email address added to the website as well.
Kind regards
Richard Taylor Investor Relations - Tiger Resources Tel: +61 8 9240 1933 Fax: +61 8 9240 2406 E-mail: [email protected]
TGS Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
