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If the link did not work then I have cut and paste from the article:
Tronox [TROXV] also manufactures titanium dioxide. It is expected to emerge from bankruptcy protection soon and is trading on a when-issued basis at 94. Tronox succumbed to the bankruptcy process because of legacy environmental liabilities with which it was saddled during its spinoff from Kerr-McGee [KMG] in 2006. These liabilities were from other businesses and should have stayed with Kerr-McGee, which also saddled Tronox with too much debt. Bankruptcy really is a cleansing process. The bankruptcy plan set up a trust for the environmental liabilities.
2010 Roundtable Report Card
2010 Mid-Year Roundtable Report Card
How big were the liabilities?
Witmer: They put about $270 million into the trust. A lot of Tronox debt has been converted into common stock. Once the bankruptcy plan is affirmed, there will be 15 million shares trading, for an equity capitalization of $1.4 billion. The company will have about $400 million of net debt.
Tronox's plants are valuable because they produce titanium dioxide using a proprietary chloride method, which is lower-cost and produces a grade required by certain end users. Only five companies have this technology. Tronox's joint venture in Australia also mines the key raw materials needed for production. It protects the supply source, and partially insulates the company from increasing costs.
What could Tronox earn post-bankruptcy?
Witmer: Earnings power in the next year is between $8.50 and $10 a share, rising to $11 or $12 as titanium-dioxide pricing reaches a level commensurate with the capital investment required. This squares with our estimate of replacement value of $100 to $125 a share. Our target for Tronox is 120 to 140 a share.
Black: How many years of rutile reserves do they have?
Witmer: They are in a good spot for as much as seven years.
Came across this article. Srcoll down and have a read about Tronox
http://online.barrons.com/article/SB50001424052970204331604576104252848553210.html?mod=BOL_twm_fs#articleTabs_panel_article%3D1
The good news keeps coming and the share price keeps dropping. Any more good news and we will be at 5 cents - Not even enough for a gum ball these days.
Don't forget that this company is not a shareholder friendly company. They do not care about shareholders as indicated by their past actions (IMO). I for one will never buy another share of this company and am waiting for a reasonable exit point now. I was thinking around $90 (this is around what was offered to the EC before the conversion). Think that this is likely to happen - lol
Does anybody have a good feel or guess as too much will be going to former cemjq holders?
Thanks
So what is your take on this company? Are you a shareholder and believer. Thanks from Sarnia
Thanks - What P/E is a reasonable figure? Thanks
Anybody reading this board from Canada? I live about three hours form the head office
Thanks - Do you have any links that I can research? Do you have any insider ownership info?
Thanks
Hey Zardiw,
Where do you see the PPS being over the next 6 months to a year?
Thanks
Who's Paul?
This is everything that is wrong with corporate USA/Canada
With all the good PR news lately does anyone see this hitting 5 cents in the near future?
How many shares did you own before they were converted?
Maybe a nice girlfriend gave you some money?
All the best to you and your family. Still here and waiting for some good news. Have you heard anything as to the "reserve" fund? Thanks
Thanks - In your opinion is this price good? Will I be able to trade the warrants like a stock? Let's say the warrants are priced at $38-40 and they double within the 7 years, can I convert them at any time to stock and then sell the stock. Do I have to put any money upfront? Sorry about the dumb questions but I really do not understand what is going on here. Thanks.
Felt good today to unload some of this POS company today. Slowly this company is becoming someones else's headache/disappointment.
Does anyone have any update to the reserve fund and when we should be receiving our "carrots"? It still kills me that we were referred to be trying to profit over the BK when it is exactly what Mr Rogerson did at our expense.
Thanks
Can someone please kindly explain to me how the warrants will work. If you could run a scenario such as assuming one had lets say 10K, 25K, 50K shares that would be great. I would like to know what my options are (i.e do I have to buy the new issued shares, or due they convert to shares after a certain period. I am hoping not to have to buy as I do not have any free money. Much thanks
In the background
I still do not know how this can happen legally. If so your BK laws are pathetic. I live in Canada and have owned ABI for sometime. There is a plant not far from us. How can they sleep at night knowing what they have done? I mean the CEO announces his leaving a day after exiting BK. Come on this has become a joke. I hope they go "broke" again. I am in the process of liquidating all of my US stocks, my trust has been broken.
Is this a good thing for us? If so, where do you see the pps at?
Thanks
Check this out
http://money.ca.msn.com/investing/news/business-news/article.aspx?cp-documentid=26700347
"Today, after three years of very demanding work, the foundations for that success are clearly in place, and I feel it is the right time to turn my time and attention back to the other people in my life who inspire me — my wife and family," Paterson said in a news release.
Should have read "Today after three years of screwing the shareholder ...."
"time to turn my time and attention back to the other people in my life who inspire me — my wife and family" - I want to puke. What a "sob"
I would suggest that everyone write their senators/premiers with their outrage. I have given up hope on the US stock market and will liquidate my stocks and start to invest outside of the US. The greed and deception and criminal activities are just to much for me.
Don't think it will be HUN - They tried earlier on in BK to take out Tronox
No RIP - I will never ever buy this POS company again. How on Earth can they screw the shareholders (owners) and then turn around and be compansated at the same time. I hope they file for BK again
Add Judge Gerber to the list (Chemtura case)
Will there be any appeal to a higher judge or a class action lawsuit? It disgusts me that they can screw retiree shareholders with no remorse or compassion.
Bingo. IMO the stock will drop again - usually does after a PR - Where can I find insider trading data - Thanks
The sooner the judge rules the better- That way we can get started to file a class action lawsuit.
I treat is as "owed" money
I was under the impression that one could not own more then 5 percent of an company under BK without approval from the judge. Can anyone please comment. Thanks.
Cannot be - My 25K shares are not for sale - lol - Will this get the attention of the SEC?
What's going on. What is the float?
Not too sure. I have been in this stock for approxitmaly 1.5 years. Bought in around $2.39 during the meltdown, soley for the dividend. I'm hoping for a takeover but will probably sell at 20.00 if it hits there.
Regarding the reserves/settlement account, will they transfer any cash owing as they settle or will they wait until are claims are settled? Looking forward to my "carrots". I feel like crap with alls that transpired, but I take a little gratification knowing that SVP/Cannon lost a whole bunch of money for that arrogance.
My shares are not for sale
http://www.newsandtech.com/dateline/article_ead738b2-fbed-11df-808d-001cc4c002e0.html
If my math is right that is 1.1 billion in the money. That is alot for us shareholders.
A news post from a few days ago. Market looks good.
http://www.prweb.com/releases/2010/11/prweb4807184.htm
Does anybody think this stock can hit $90.00 (this would be approximately what the company offered to the EC - $1.40/share)within the next year?
Thanks
Wow - bad genes - lol