Hi Mode - I have created a spreadsheet below which provides...

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bazarrudin

524 Posts.

01/10/21

18:27

Post #: 56509579

Originally posted by mode1971: ↑
Thanks roarlenny, they mentioned scale back in the announcments, shame they did not mention if over subscribed would increase it.

Anyways, many of us have been hear from ages and do support the company 100%

Sometimes we may discuse issues that the company may see to be detrimental, but often the source of these conversations is of genuine concern, not malaise and it seems to start due to miss communication more than not.

Ie today, an email explaining, when it could have been put in the release.

Basically people will question things because they care, sure trolls do it for fun, but the folk hear are compassionate and genuine.

In a way it is good we do discuse different topics, for me, I learn alot, that I would not have learnt.

This is a great forum, with great members, that other forums lack, also it is testament to our nature in a sense very little person matters occur, and if they do, respect quickly unfolds and gets us back in a happy place.
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Hi Mode - I have created a spreadsheet below which provides different permutations of percentage encashment of TNRO options and resulting issue of new TNR FPO's and 'NEW' 3.5 cent strike price options.

Speculation that the TNRO options monies received may be used to repay the monies owed to the lender for the Tarmoola transaction (before said lender does an equity for debt swap at advantageous terms if the share price allows as per contract terms) is a credible idea.

If so I calculate a minimum sweet spot to satisfy this scenario to be 150 million TNRO exercised to receive approx $3 million proceeds - this roughly equates to the current liability of $3 million outstanding to the 'Tarmoola' lender. This equates to 32.52% of TNRO options on issue.

If this is not to be the case then the spreadsheet otherwise gives this thread and idea of different scenarios given the current announcement under debate - of course DYOR and and if you spot any errors please let me know

SOI (TNR) millions
Options (TNRO) millions
TNRO -Ex-Price

1
869.39
461.23
$0.02

2

3
Options TNRO Converted
Percentage of (%)
NEW Options Issued # (Ratio of 2:5)
Current SOI (#)
New Total SOI (#) millions
Proceeds of
4
(millions)
issued TNRO
(Holders of FPO heads) PLUS
(millions)
(Current) PLUS
(Exercised TNRO)
Option Conversion ($)
5
to receive TNR Stock (#)
exercised at 2c
(Those that converted TNRO)
(TNRO) Millions ($)
6
50
10.84%
367.76
869.39
919.39
$1.00
7
100
21.68%
387.76
869.39
969.39
$2.00
8
150
32.52%
407.76
869.39
1,019.39
$3.00
9
200
43.36%
427.76
869.39
1,069.39
$4.00
10
250
54.20%
447.76
869.39
250.11
$5.00
11
300
65.04%
467.76
869.39
1,169.39
$6.00
12
350
75.88%
487.76
869.39
350.33
$7.00
13
400
86.72%
507.76
869.39
1,269.39
$8.00
14
450
97.57%
527.76
869.39
450.54
$9.00
15
461.23
100.00%
532.25
869.39
1,330.62
$9.22

		SOI (TNR) millions	Options (TNRO) millions	TNRO -Ex-Price
1		869.39	461.23	$0.02
2
3	Options TNRO Converted	Percentage of (%)	NEW Options Issued # (Ratio of 2:5)	Current SOI (#)	New Total SOI (#) millions	Proceeds of
4	(millions)	issued TNRO	(Holders of FPO heads) PLUS	(millions)	(Current) PLUS (Exercised TNRO)	Option Conversion ($)
5	to receive TNR Stock (#)	exercised at 2c	(Those that converted TNRO)			(TNRO) Millions ($)
6	50	10.84%	367.76	869.39	919.39	$1.00
7	100	21.68%	387.76	869.39	969.39	$2.00
8	150	32.52%	407.76	869.39	1,019.39	$3.00
9	200	43.36%	427.76	869.39	1,069.39	$4.00
10	250	54.20%	447.76	869.39	250.11	$5.00
11	300	65.04%	467.76	869.39	1,169.39	$6.00
12	350	75.88%	487.76	869.39	350.33	$7.00
13	400	86.72%	507.76	869.39	1,269.39	$8.00
14	450	97.57%	527.76	869.39	450.54	$9.00
15	461.23	100.00%	532.25	869.39	1,330.62	$9.22