tastarga....., page-2

re: tastarga/meerkat..... Meerkat,
just some observations as I could not care less about the stock.
1. I work in the mining industry-at executive level it is surprisingly small. I have not heard of these gentlemen nor has my network. A brief glance at their CVs suggests they are not experienced in this sector.
2. They were meant to raise $50m in convertible notes for a salt project-within days the issue miraculously turns into something around $10-20m on an iron ore project. Strange? I should have realised comparatively cheap mining opportunities happen over night in Sth America despite it being the Canadian's home turf!.
3. The only cash in the bank is from debt-either borrowings from some weird party no one has ever heard of , or more recently this convertible note issue.

As far as I can see the exact terms of the note issue have never been released to the ASX. (Please remember people, convertible notes are a debt instrument until they convert/if they convert-they rank in priority to shareholders and can easily screw them around in the event of a hiccup!)

4. The irony of iron ore (sic!)-this appears to be a jv whose crucial terms have not been disclosed to the market. Funding of future obligations, decision making generally, dividend repatriation/with holding taxes, etc etc etc.

Given the above, I quickly lost interest in any of the company's activities on the basis that the above factors, coupled with a market cap around $100m, suggests the risks are absolutely horrendous.

One for the 'bell hops'- read your history peolple .

Cheers,TAS