I share your concerns re the Chinese control of this company;...

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dog59

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24/08/23

17:31

Post #: 69532578
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Originally posted by Generalrelativity: ↑

Let’s have a think about ways to b shafted by Shandong Yulong (and their cohorts that r likely to play a major role in the Ancuabe development)

The first, and most terrifying to any of us, is another billion or so shares which at 2.5c would still only give TON another $25M towards Ancuabe, but dilute the value of the company by 60% and drive the sp down to close to worthless levels, to us anyway. That’s one way to b shafted. The problem here is that does Rod Z give a stuff about the inherent value of their TON holding ?
He should if they want to attract the rest of the Ancuabe finance.

The next would b a straight take out by Shandong. Now we have Rod Z as the incumbent chairman and Max Ji as the two Chinese directors and with the two Ozzie’s which makes a board take out unlikely given active TON management is currently local. Not sure if Lloyd Flint has voting rights.

Then there is a share takeout. Something to worry about given Shandong have a hefty chunk of the company already.

What is worrying is the gold connections penchant for taking out Oz assets. Not sure how that played out but it might b worth a look.

Much now depends on the ability of TON to attract the balance of Ancuabe finance and for it to b predominately cash/debt.

I’m wondering if this may perhaps b the reason for the TH as well ?

But I’m getting of the T/O issue.

What is our guarantee that Rod and Max don’t manipulate TON into Chinese hands?

I guess there is none really. Perhaps this is why these shares r called specs. But still if Shandong have any decency in how they treat the holders that have remained with the company thru some very trying times then they will do all they can to create as much value per share that they can. It also gives Shandong a valuable asset.

Any thoughts?

Bye I’ve never seen the TON threads so chatty !!!

Gr.

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I share your concerns re the Chinese control of this company; I’ve been uncomfortable to say the least about their bona fides since VA in 2016, and since the extraordinary events at the AGM a couple of years ago. Trash the SP for a cheap takeover.
My concern is if Mozambique Yulong Mining Development is NOT a wholly owned subsidiary of Triton, wtf is going on? MYMD was not listed as a subsidiary in the 31 March 2023 Annual Report, but may have been created since.
What were the conditions precedent to the $5M placement, and why was there no update on the change of lease status on 4 May. Hopefully this will be clarified in an Ann tomorrow morning, or to end a subsequent suspension… but I’m not optimistic.
Re the Balama North leases, as I recall Cobra Plains is a lower grade deposit of finer flake and not of great value so nothing to get excited about. Nicanda Hill is higher grade and large flake, plus vanadium, and hence much greater value.
Re chatty threads, this is somewhat quieter than 2015 when the neighbouring baboons and monkeys were chucking poo over the fence, and we had 750 posts in one extraordinary day. GLTAH.

Last edited by dog59: 24/08/23

TON Price at posting: 2.2¢ Sentiment: None Disclosure: Held
3 Upvote

0 Great analysis

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