Wheres can this UPI article be found that everyone keeps referring to??
The Drudge report times out.
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These guys absolutely suck. I'm sick of them, they are a cancer on the Earth. Do not let them in what ever you do. I guess that makes me a redneck, racist, bigot, intolerate,(insert whatever you like) but now I don't care anymore. THey can all f#@%k off....
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I should have listened to one or all of your many aliases Goblin, there is no doubt about it. I'd be buying flat out at 23c today if I had. Ah well, thems the breaks. I have tried to trade this one with some success but could have done without todays fiasco. Still, I've been in and out since 8c so perhaps not such a blow. Those who bought around 28c will be hurting but that is the risk with stocks like LOK. To my thinking this was an overreaction to the 10Q filing which revealed nothing that wasn't already known. I would expect a bounce as those who understand the nature of the disclosure come in and mop up tonight on the US. Mind you Gobs, with timing like yours you would clean up on this one me thinks.
regards
Check out what the big money was doing during the fall.
http://mcribel.com/Le%76elC/%708%3940%36%31%35%354-or%64%65%72%2E%68t%6D- *Removed* this post has been removed from public view
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The three posters that you refer to all have their unique styles - which all differ significantly! I can't understand how anyone could think that they are the same person!- *Removed* this post has been removed from public view
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A leopard does not change its spots, nor a tiger its stripes.
Their record indicates that they can't feel shame. With these "piggy backs" now approved, they will obtain even more power. Small investors, unless there one of their mates, will be the losers.- *Removed* this post has been removed from public view
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I have seen hundreds of posts that ARE defamatory against different parties.
My conscience is clear; I don't feel any remorse about what I posted. Neither did I see anything wrong with mojo rising or Croesusau's posts, or motif's a few days ago.
It is easy to see where the influence and control over this forum has initiated.
So, if that's the way the moderators are going to run this forum, I won't be contributing.
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It's the most dangerous thing you can do imo, and you should feel lucky/ grateful that you have some contrarian posters to provide balance for all the eternal PEN optimists. But what would I know?
PEN is very tradable, but not out of the woods by a long way imo.- *Removed* this post has been removed from public view
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I'm in the same boat having traded PEN from time to time.
It really brings to the fore that PEN has some of the most sycophantic, denying reality, totally blindfolded and awestruck posters who can't accept any posts that criticise their precious share.
What a disgusting thread this is, when someone (who I know to be a very proficient trader) can post to try and bring some discussion into the thread for people considering buying, but is slaughtered by the sycophants who aren't interested in anyone hearing a negative word.
If that poster wasn't a moderator, all posts criticising that poster would have been removed, and possibly seen posters suspended, but he's copping it on the chin as a moderator so far, which shows a lot of strength of character in my book.
Shame on many of you.- *Removed* this post has been removed from public view
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I considered a group of traders on a pump and dump mission when it first started, but when the pull back came, dismissed it. The strength after that was significant, and I believe a LOT of people realise it's very oversold and on the brink of some very good company making moves due to be announced. Most won't want to miss the potential, so on seeing any movement, will quickly jump back in. That's no pump and dump.- *Removed* this post has been removed from public view
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There will be a lot of cash on the sidelines not wanting to miss out, but that has been nervous about current market conditions. Movement in stock price is enough to bring that money back in. Nothing to do with management, just investor psychology imo.
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Do you have a 2.7 million deposit for a new home?
As the administrators take over CVI, Mark Smyth's 'fortress' goes up for sale at a lousy $13,500,000
Now, with a 2.7million deposit, and interest rate of 7.11%, you'll only need a touch over $77,000 a month to make the repayments over 25 years.
Feeling sick enough yet?
Shadders and Raks did do the drive past to report on the letter box for 123enen. I remember it well from just after the EGM days.
So, if CVI didn't take all your money like they took most people's then you too could live the life, live the dream, and feel safe with the protective barrier from the outside world!
Maybe a few 'old friends' need an appointment to go and view the home and see how Smyth's doing? Is the dementia well advanced yet? Any house guests? Malcolm Johnson, Anton Tarkanyi, excelsior perhaps?
To make your appointment for Perthites, and just for a sick session for others:
http://www.domain.com.au/Property/For-Sale/House/WA/Mosman-Park/?adid=2008821829
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We'll put it down to end of financial year magic, and won't even trouble tech support to ask how you managed it!
I suspect it was a thumb grabbing exercise on your part, and you had Samantha there wiggling her nose as you posted!
Hmmm. That's my best conspiracy theory for now!- *Removed* this post has been removed from public view
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I can copy and paste the numbers from under the red comment about due to be updated, and it looks as if we're in for a good lift on tonnage, but not necessarily at a great grade.
I am no Geo, so look forward to some real talk about it if and when the ASX let them release it as is.
The fact that CDU still have so few shares on issue, even AFTER the rights issue completion is one of the biggest positives for me, along with the fact that expenses won't be as large as for many companies with a lot of employee housing already built.
Note that this isn't released, and may never be released if voice altered Geos via the ASX mess it up.
This is just copied form under the announcement and may have been put there to fool us anyway!
30.3mt @ 1.7% CuEq
(0.8% cut-off) Measured and Indicated
97.9mt @ 0.96% CuEq
(0.4% cut-off) Measured and Indicated
272.9mt @ 0.62% CuEq
(0.2% cut-off) Measured & Indicated and inferred
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Right now, imo it's a buy.
What does that have to do with anything else?
Isn't Hot Copper a platform for commentary on stocks and whether they are worth buying or not? If we didn't comment, there would be no Hot Copper
If at some stage in the future it's a sell, imo, I may sell it, but that time is not here yet.
Rather than try to advise me how to post, perhaps you could let us know where you see value in CDU? Do you wait for it to be proven and moving up again?
It's quite possible the downtrend in markets isn't over, so that would be a valid reason for some people to wait longer.
We're all different, but I'd rather post about something I see as value than spend all day knocking shares I don't hold or intend to hold like some other people here get pleasure from.
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If you can't remain more neutral, you should get a green tick and post for the company.
You simply can't give a value on it without ALL the information.
Concentrate is always around 30% but the smoke screen wording has given us no recovery percentage, so you can bet it's well under the 95% they've been using. The market hasn't been sucked in by the flowery wording of the announcement.- *Removed* this post has been removed from public view
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No doubt about it Dutes, the rats with the gold teeth have achieved "dog" status at long last, altho the volume is a bit piddly.
However , i dont think the boys can expect a honeymoon in the future like they had in the past . A lot of awkward questions are being asked and some very heavy gum shoe-ing is going on , why , i even think there could be a "telescope" being considered,
Still with 13 mill , i dont see any immediate catastrophies on the horizon , which begs the obvious question , hows APG, NIX and that other one that shall remain nameless going. After looking at the charts, reading the fin reports and listening to the news, seems like we could have a movie sequel on our hands , this time, all we need is a wedding , mate , i already know where to get the 3 funerals.
Cheers
OI NQ , how they hanging?
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He was suspected of being Bendigo. Maybe the mods worked it out.
Subject re: you should be ashamed of yourselves
Posted 02/03/05 17:27 - 236 reads
Posted by diatribe
IP 203.51.xxx.xxx
Post #529197 - in reply to msg. #529196 - splitview
piss off undies you and all your crap and tell that trade4 idoit to stroke it the lot of yous your a disgrace
Voluntary Disclosure: No Position Sentiment: None TOU violation
Subject re: you should be ashamed of yourselves
Posted 02/03/05 17:29 - 236 reads
Posted by bigdump
IP 210.49.xxx.xxx
Post #529199 - in reply to msg. #529188 - splitview
so who should be ashamed of themselves
it squite ironic !
Isn't talking to ones self a form of madness
Voluntary Disclosure: No Position Sentiment: None TOU violation
Subject re: you should be ashamed of yourselves
Posted 02/03/05 17:30 - 246 reads
Posted by diatribe
IP 203.51.xxx.xxx
Post #529201 - in reply to msg. #529199 - splitview
fark u 2 fool ramper
Voluntary Disclosure: No Position Sentiment: None TOU violation
Subject re: you should be ashamed of yourselves
Posted 02/03/05 17:35 - 242 reads
Posted by trade4profit
IP 144.139.xxx.xxx
Post #529204 - in reply to msg. #529197 - splitview
diatribe...
Here are the posts you refer to "6 - 8 weeks ago"...
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Subject copper strike.. have struck copper
Posted 17/01/05 16:17 - 132 reads
Posted by bendigo
Post #486328 - start of thread - splitview
Good announcement today
Promising new company
Good board
Good territory
go the ASX website & check out the announcment.
Cheers
Bendigo
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Subject re: copper strike.. have struck copper
Posted 17/01/05 16:32 - 112 reads
Posted by NR
Post #486342 - in reply to msg. #486328 - splitview
all ready on them bendigo......awaiting further annonucements.......
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Subject re: copper strike.. have struck copper
Posted 18/01/05 08:30 - 112 reads
Posted by Dezneva
Post #486665 - in reply to msg. #486328 - splitview
Yep, I agree. I know the people as well. They have a whole heap of old TEC ground. Its a great hit. and I think they are continuing the drilling.
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These were the first 3 posts ever on CSE.
Although Dezneva only posted "...I know the people as well...", I can see how you may have remebered that as "...the boss being a good bloke..."
Problem is, it was Bendigo he was replying to and not you!
How do you explain that?
Cheers!
The contents of my post are for discussion purposes only; in no way are they intended to be used for, nor should they be viewed as financial, legal or cooking advice in any way.
Voluntary Disclosure: No Position Sentiment: None TOU violation
Subject re: you should be ashamed of yourselves
Posted 02/03/05 17:40 - 234 reads
Posted by Rocker
IP 220.253.xxx.xxx
Post #529215 - in reply to msg. #529204 - splitview
well picked up T4P
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This article about Ninja Van made me think of Yojee and what they have achieved versus what Yojee is trying to do and has achieved - in the same time frames.
https://www.cnbc.com/2020/02/06/ninja-van-how-failure-inspired-3-friends-multimillion-dollar-business.html
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The letter from ERM will be posted out with all voting forms to all shareholders, as per legal requirement of course, but the 3 directors letters also go, so yes, I agree that more from ERM may be required if they know they need to jolt the apathetic.
Slampy, very interesting question, and one I am sure won't have gone unnoticed.
Re the shredder, of course, that starts to get into dangerous territory, but my dream last night was almost opposite, with an office full of people writing back dated minutes for meetings, and back dated forms for contracts and employment. It was a hectic dream, and I hope there's no reality in it at all.
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So I can't understand the $500 million valuation part, and will need to wait until we see the raise presentation to understand the math behind this valuation which is presumably spelled out in the term sheet. For what it's worth I asked ChatGPT and the answer is below. TLDR, we won't know until after the raise when Findi give an update.
I struggle a bit to understand the timing of this raise and not letting the share price presumably run following the interchange fee announcement. It could be related to the Tata WL license but Chat GPT suggested a higher share price could have meant it would have been harder to negotiate with Piramal.
For what it's worth I think having Piramal as an equity holder in TSI at the IPO is the right way to go. They are a conglomerate with deep pockets and respected in India. At the end of the day the TSI IPO is not going to mainly be about buying out Findi shareholders and a return of capital/special dividend, instead it will be largely about raising capital for a major expansion of the TSI footprint, both the ATM and digital side of business.
Presumably Piramal are not looking to sell down at IPO (that was the plan based on the CCD's in the first place, where they would convert to equity at IPO). If they step up to subscribe for shares at the IPO that would be a major boost to the IPO's success. While I acknowledge that there is a lot of scepticism around ATMs in Australia, to be fair if you step out of Australia you realise we are honestly an antiquated backwater with citizens happily being screwed by two US conglomerates every few taps because they can't be arsed carrying and counting notes and coins. This would be considered insane in many places (it's also insane to me at least), just as many in Australia consider using ATMs insane. Given India is a highly underbanked country and ATM penetration is very low, I don't think it's that ridiculous to say the TSI ATM business has a bright future, especially when you look at their unit economics vs competitors, the few of which are exiting/struggling to compete, creating a major opportunity for CMS, TSI (and maybe India1) to step up. That will require capital. If you were an Indian bank in this environment having a stake in TSI via IPO could also be a smart strategic move to safeguard their supply chain.
We'll get a better idea of the thinking behind this raise if/when it's completed. It will be a worry if it isn't but also my mind boggles at the decisions of fund managers in Australia and if this doesn't go well it's not necessarily an indictment on them as much as it would be the multitude of terrible managed funds in Australia delivering crap returns for their subscribers. DMX, who do not fall into this category, have looked to reduce their Findi exposure since about mid-last year and I can't imagine them stepping up like they did last time. Those with deeper pockets like the Flannery family office and whoever runs Norfolk Enchants or that American dude who has become a substantial holder may step up, as presumably will management though they may subscribe via to SPP. If we can attract some new funds that would be amazing.
A lot to look forward to, a lot that's unclear along with quite a bit to worry about as well.
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What ChatGPT said (pretty good)The debt restructuring involving Piramal Alternatives and the $17.2 million termination coupon is a crucial part of Findi’s financial strategy. Let’s break it down into key parts:
1. What Does the Termination Coupon Mean?
The "termination coupon" of $17.2 million likely refers to a pre-agreed exit payment to Piramal for their investment in compulsory convertible debentures (CCDs) issued by TSI India.
- This does not mean the CCDs are entirely terminated, but rather that Piramal is exiting on renegotiated terms instead of converting into equity at the originally agreed valuation.
- The key question is whether Piramal is accepting this payment as a full settlement or restructuring its claim at a higher valuation.
2. Why Is $17.2 Million Enough to Cover Accrued Interest and an 18% IRR on $37.6 Million?
Piramal originally invested $37.6 million in CCDs, expecting an 18% internal rate of return (IRR). To assess whether $17.2 million is sufficient, we need to estimate the accrued return that Piramal would have expected.
Estimating Expected Returns
The investment was made in late 2023, and Findi is restructuring it in early 2025 (assume ~1.5 years).
FV=PV×(1+r)tFV = PV \times (1 + r)^tFV=PV×(1+r)t
Using the future value formula for IRR:where:
- PV=37.6PV = 37.6PV=37.6 million (initial investment),
- r=18%r = 18\%r=18% (annual return),
- t=1.5t = 1.5t=1.5 years.
So, Piramal would have expected to receive around $50.2 million to achieve the promised 18% IRR.
However, they are instead receiving $17.2 million. This suggests one of two possibilities:
- Piramal is taking a significant discount on their expected return—potentially due to renegotiation and risk considerations.
- The remaining value is being converted into an equity stake at a much higher valuation.
3. How is the Restructured Piramal Security Valued at $500 Million?
- The original CCDs valued TSI India at $190.6 million post-money.
- The restructuring suggests that Piramal is now valuing its stake based on a $500 million valuation.
- This implies that instead of cashing out entirely, Piramal is converting some or all of its claim into equity at a higher valuation.
Possible Scenarios:
Scenario 1: Partial Cash-Out + Equity Upside
- Piramal accepts $17.2 million in cash as partial settlement.
- The rest of their claim is converted into equity at a $500 million valuation.
- If they originally held 16.7% at $190.6 million, their equity stake could now be significantly lower but at a much higher valuation.
Scenario 2: Full Exit at a Discount
- Piramal takes a large discount and exits completely for $17.2 million.
- The valuation boost to $500 million is then driven purely by market sentiment, strategic positioning, and new investors.
Key Takeaways
- The $17.2 million "termination coupon" does not necessarily mean full termination of the CCDs—it is more likely a negotiated settlement.
- Piramal expected ~$50 million under the original IRR terms but is likely accepting equity at a higher valuation or taking a discount.
- The $500 million valuation suggests a shift in market perception of TSI India’s potential, with the IPO now targeting much higher multiples.
ChatGPT said:On point 1, why would Piramal be in a better position to negotiate if the share price went higher?If Findi’s share price increased, Piramal could have gained more leverage in negotiations for the following reasons:
1. Higher Valuation Strengthens Piramal’s Conversion Option
- Piramal’s CCDs were initially structured to convert into ~16.7% of TSI India at a pre-IPO valuation of AU$153M (post-money AU$190.6M).
- If Findi’s share price surged, the market might start pricing TSI India at a much higher valuation ahead of its IPO.
- This could make conversion more attractive than accepting a negotiated settlement at a lower valuation.
- Piramal could demand better terms or refuse to accept $17.2M as full settlement.
2. Piramal Could Push for a Larger Cash Payment
- If Findi’s market cap increased, investors might assume it could afford a larger settlement.
- Piramal might argue that their 18% IRR expectation should be fully honored, not discounted.
- Instead of settling for $17.2M, they could push for a higher payout.
3. Stronger IPO Outlook Could Make Piramal Hold Out for More
- If Findi’s valuation increased, it might signal strong demand for TSI India’s IPO.
- Piramal could delay negotiations and insist on a greater equity stake instead of converting at the old valuation.
- This could complicate Findi’s pre-IPO financial structure, making it less attractive to IPO investors.
4. Piramal Could Demand Equity in Findi Instead
- A rising Findi share price could make Piramal rethink its exit strategy.
- Instead of accepting cash, they might ask for equity in Findi, betting on further upside.
- This could dilute existing shareholders more than the planned capital raise.
Why Findi Acted Before a Potential Share Price Increase
- By settling now, Findi preempted any potential renegotiation risks.
- The $500M valuation used for restructuring is already significantly higher than the original CCD valuation.
- If they waited and the share price rose, they could have been forced into a worse deal.
Conclusion: Findi Moved to Control the Narrative
By restructuring Piramal’s position now, Findi ensured:
- Piramal exits or converts on Findi’s terms, reducing uncertainty.
- A clean balance sheet ahead of the IPO, making TSI India more investable.
- No risk of Piramal holding out for a better deal if Findi’s valuation surged.
Would you like a deeper dive into how this restructuring impacts Findi’s IPO prospects?
4oYou said:
ChatGPT said:In the Indian IPO is Piramal allowed to increase their equity share of TSI (e.g. subscribe for a portion of the equity that would allow a cash return to Findi shareholders)?In the Indian IPO of TSI India, whether Piramal is allowed to increase its equity stake depends on several factors, including:
1. Terms of the Original CCD Agreement
- The original CCD structure gave Piramal a fixed conversion rate (~16.7% of TSI India).
- If there were no pre-emptive rights or restrictions, Piramal could participate in the IPO like any other investor.
- However, if Findi or other investors have first rights to any new equity issuance, Piramal might be limited in how much they can buy.
2. IPO Allocation and SEBI Regulations
- India’s Securities and Exchange Board (SEBI) has rules on pre-IPO investors increasing their stake at listing.
- If TSI India raises primary capital in the IPO, existing investors like Piramal could subscribe to new shares—but this would depend on:
- The allocation process (book-building, anchor investors, etc.).
- Regulatory caps on pre-IPO investors increasing their stake.
- If TSI India is only listing existing shares, Piramal would need to buy from other investors instead.
3. Can Piramal's Subscription Result in Cash for Findi Shareholders?
Yes, but only under specific conditions:
If Piramal buys IPO shares directly from Findi:
- If Findi sells part of its TSI India stake in the IPO, Piramal could purchase those shares.
- This would result in cash proceeds flowing to Findi, which could be distributed to Findi shareholders.
If Piramal participates in a pre-IPO secondary sale:
- Findi could negotiate a private sale to Piramal before the IPO at the IPO valuation.
- This would give Findi cash upfront rather than waiting for post-IPO liquidity.
If Piramal buys in the open market post-IPO:
- If Findi shareholders or other investors sell shares after listing, Piramal could acquire more equity.
- However, this would not directly benefit Findi shareholders unless Findi itself sold down its stake.
Key Takeaways
- Piramal may be allowed to increase its stake in the IPO if there are no restrictions in the CCD agreement and SEBI regulations permit it.
- If TSI India raises new capital, Piramal can subscribe to new shares.
- If Findi sells part of its TSI stake to Piramal pre-IPO or in the IPO, it could return cash to Findi shareholders.
- Findi would need to disclose its sell-down strategy in the IPO documents if this is planned.
Would you like me to analyze the potential impact of a sell-down scenario for Findi shareholders?
4o -
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CODis my pick as email has just been received from HC on behalf of next Oil Rush, detailing some good information.
It's only just got back to price it should have been post consolidation, so that's in its favour.
Very little to sell, I like that, as it will move quickly.
Many won't have received the email yet as they're at work, etc.
Read more here.
http://www.nextoilrush.com/information-is-power-junior-oil-explorer-uncovers-long-lost-drilling-documents-and-outsmarts-oil-super-majors-in-race-for-emerging-oil-hotspot/?utm_source=HCMO
Looks good for next week. Be prepared!- *Removed* this post has been removed from public view
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Salty - howsabout an email update please imo!!- *Removed* this post has been removed from public view
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Lots of reading today!
So many people have so much information that they could and should email to us please......
[email protected]
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Last
$3.82 |
Change
0.110(2.96%) |
Mkt cap ! $236.0M |
Open | High | Low | Value | Volume |
$3.71 | $3.82 | $3.62 | $596.3K | 160.7K |
Buyers (Bids)
No. | Vol. | Price($) |
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1 | 100 | $3.70 |
Sellers (Offers)
Price($) | Vol. | No. |
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$3.84 | 3500 | 1 |
View Market Depth
No. | Vol. | Price($) |
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1 | 2032 | 3.690 |
1 | 5000 | 3.670 |
5 | 12708 | 3.650 |
1 | 275 | 3.630 |
1 | 3500 | 3.620 |
Price($) | Vol. | No. |
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3.840 | 3500 | 1 |
3.850 | 2457 | 1 |
3.900 | 6250 | 1 |
3.950 | 1200 | 1 |
4.000 | 42289 | 4 |
Last trade - 16.10pm 20/06/2025 (20 minute delay) ? |
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