FM3 firstmac mortgage funding trust no. 4 series 1-2020

@Corgi with many new targets emerging. I wonder why TSO have not...

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Bellavena85

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22/04/21

14:30

Post #: 52652462
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Originally posted by Corgi: ↑

@ASXO
Analyst coverage and research reports + some self research. TSO definitely has the scope, ticks all the boxes, which is largely why we ran circa 15-20x in 8 months. It wasn't retail that pushed up ... It'd make it even easier once the MRE is out (hopefully it is bigger then 2.5Moz).

What they typically do is have their top 15 pick, they'll allocate their % of investment to each, for example BGL could hold a 25% weighting and TSO 8% and as they get more investment in their fund, they'll undertake a pro-rata purchase of units based on their weighted port-folio. This will get adjusted based on news flow. For example, TSO announces they have discovered a 3rd Ternera, the weighting could get increased to 15%.

We have Pac Partners valuing us at 38c with plenty of cataylst to overshoot that target. When more liquidity from funds pump the sector we should see a violently rampaging run up.

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@Corgi with many new targets emerging. I wonder why TSO have not added more rigs. The addition of let's say 2 more rigs would be a declaration to the public that:
- This is a big deposit, with a total of 6 rigs operating 24/7.
- Build value faster as more assays = more proven value.
- Faster newsflow, more chance of discovering something extraordinary among new targets.
I know 2 more rigs would mean faster cash burn but with the deadline for MRE approaching, I think it would be much more beneficial to add more rigs now.

Regarding MDI, well.. luck wasnt in our favor. I'm just upset with the management, one of the worst I must say. Too many false promises. Anyway, we cant win them all, we will always win some, lose some and learn our lessions. I'm looking for many more years of investing and sharing info with you guys here.

FM3 Price at posting: 0.0¢ Sentiment: None Disclosure: Not Held
4 Upvote

1 Great analysis

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