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The gold "reserves" of Australia that you are referring to are very different to the gold "resources" of LODE. Australia's 80 tonnes of gold reserves relates to pure gold bullion (already refined and in the vaults) not gold in the ground that is required to be extracted. The comparison is meaningless.
What are you talking about?? Australia produces over 200 tonnes of gold PER YEAR! "Do your maths".
Sarcasm. Got it (and like it)!!!
Your basic Maths are wrong!!! $300k at $1.22 = 246,000 shares. Total would be 546,000 shares for a total investment of $600,000. Break even would require a sp of $1.73 (not $1.50 as advised in your blog). You "advise" someone to invest another $300,000 in the hope that the sp will increase by more than 42% from where it is today to merely break-even (when in fact over the past couple of years it's constantly fallen). I assume you're not a professional investment advisor!!!!
Your humor is good joeblow. I saw a sign once which I think sums up humor well...... "Seven days without laughter makes one weak".
Tonogold's AGM is being held at the Museum of Contemporary Art, Coast Room 700 Prospect Street, La Jolla, CA92037 on June 23rd at 11am.
I suggest you read the response to Joeblows "accusation" which is repeated below and for which Joeblows.... actually thanked me for pointing this out.
"Note 10 of the Annual Financials provides a table which provides details of warrants issued including those issue to Simona Ashley. It states that these were issue to the CEO (ie Mark Ashley). The "#" next to those warrants also refers to the note at the foot of that table which ALSO states that the warrants issued to Mrs Ashley were part of the 10 million warrants issued to Mark Ashley as part of his employment contact which had been disclosed previously (including in the announcement which advises of his appointment). Clearly Mark Ashley decided to put half in his name and half in his wife's name. This is perfectly normal"
I don't know of any company with a market cap similar to that of TNGL that has a promotion budget anywhere near a "six figure" sum. Would be happy to be proved wrong. Can you give me some examples? I would be an extremely concerned shareholder if I invested in a mining company that did. If one has to "buy" market support, that to me would be a huge red flag. The share price fall last Friday was on the basis of just 500 shares being sold ($30 worth). That should not nor cannot be used as an indication of a new trend.
I suggest that before making accusations you actually read the financial statements - which clearly you haven't
Note 10 of the Annual Financials provides a table which provides details of warrants issued including those issue to Simona Ashley. It states that these were issue to the CEO (ie Mark Ashley). The "#" next to those warrants also refers to the note at the foot of that table which ALSO states that the warrants issued to Mrs Ashley were part of the 10 million warrants issued to Mark Ashley as part of his employment contact which had been disclosed previously (including in the announcement which advises of his appointment). Clearly Mark Ashley decided to put half in his name and half in his wife's name. This is perfectly normal.
Re your question of salaries. There are 3 other directors who would be receiving directors fees. Nothing questionable here either.
Are you having difficulty getting into the Offer Document? Please note the password is all lower case ie. "tonogold". Please advise of you are still having problems.
My email address incorrectly ommited the .com. Therefore shareholders may contact me on mjashley@tonogold.com. Apologies
For your information my PowerPoint presentations made at yesterday's AGM are now available to download from the companies website. See links below.
We are anticipating arranging a conference call next week with mediated Q&As. Details to be provided soon. Best regards. Mark.
Iron ore presentation
http://www.tonogold.com/i/pdf/Presentation_Iron_Ore_2013_10.pdf
General shareholder AGM presentation.
http://www.tonogold.com/i/pdf/Presentation_Shareholders_Meeting_2013_10.pdf
Your Maths are correct and really need me to confirm it. 6 weeks +1 month staring oct 17th = Dec 28th. These Q's o really don't have time responding to. With all due respect I have other more pressing issues that I need to devote my time to. I thought the announcement made that very clear.
The pricing I have discussed previously. It's a matter of supply/demand.
Your Q on Mil-Ler having an option over 20m shares at 5 cents is a strategic positioning for Tonogold. We would like to be able to consolidate 100% of the project in the future into a public vehicle. By Mil-Ler having a reasonable position in Tono as a result of their potential 20m shareholding places is in a good strategic position to be the public consolidated vehicle. Also any benefit that would result in an increase in the Tono share price will be the benefit to the company that we will have a 34% stake in and will therefore share in any rerating. This part of the deal was well thought through.
I can't answer your last question as it doesn't make sense. The 1st option costs $5m and we get 17%. That the pricing. It's irrelevant what price it's done at - we end up with 17%. That's the key.
Hope this provides some clarity and now I have to focus other matters.
can assure you that I am Mark Ashley and am happy to take a poly gram (but over the internet if that is ever possible in the future). Joking aside I am happy to entertain dialogs with shareholders on questions relating to matters in the public domain to provide clarity and transparency where needed. I appreciate that announcements and presentations lodged are somewhat impersonal and rarely portray the importance of the underlying message. However we do try our best!
Re your question on our Nevada properties although you have clearly grasped the concept of regional consolidation benefits, I am sure that you will appreciate that I cannot comment publicly on commercially sensible issues that may or may not be under consideration and/or discussions with third parties. However as I said you understand the commercial opportunities. We are a small group of individuals at Tonogold at this time and our time management it limited and has to be very focused.
With regard to your comments on the past capital raising and in particular the pricing I would like to remind you that for months prior to announcing the management changes and the small capital raising the share price had been hovering around the one cent mark. To convince new shareholders to invest new funds in a vehicle they know little about and that those funds would be largely directed to repaying past debt wasn't an easy task. Clearly the minimal amount being raised didn't justify any significant due diligence by those new investors. They were really putting up new money on high risk and speculation. The fact that the share price started to appreciate toward the end of our discussions it was apparent that the market had got wind that something was afoot. The price appreciation was not fundamentally based and any short term and unexplained change in the price cannot be the basis for renegotiating the placement pricing. Also at that time the market regulations prohibited from marketing the capital raising to current shareholders (without expensive formal documentation (eg prospectus) which would have eaten away at more of the small cash being generated.
This proposed raising is different in so many ways. First that fact that's we have an option means that we can (and have been able to appraise the market of the transaction prior to setting the pricing terms and that the regs have changed recently to enable accredited shareholders can consider participation). The share price will be able to settle and find its right level based on the facts of the transaction (not on pure speculation as in the past) and the pricing of the raising which is based on the real "informed" market price can be appropriately determined. At the end of the day the basic economic principle if supply and demand will prevail.
I prefer shareholders poise geniune questions that management can try and respond to via means other than BLOGING. My email address is mjashley@tonogold but please appreciate I have limited time and I would have hoped that our announcement are adequately detailed and appropriately transparent that would limit any confusion.
I understand the the security regulations have recently changed enabling the company to formally invite "accredited" shareholders to be able to participate in a capital raising without the need for complex and time consuming rights issue type structures. We are seeking further legal advice but am reasonably confident that we can achieve the benefits of being able to allow current shareholders to participate with simple documentation. Will keep everyone advised.
Hadn't realized that time - nearly 4am. It's been an interesting but long day and now need to sleep. Thanks to all our shareholders support. I am here to do what ever I can to build Tonogold into a vehicle that we will all be proud to be a part of. Hope you all have a great weekend and rest assured that I am totally committed to making the right decisions for all our benefit. My interest is most certainly aligned with those of shareholders. My reward will be in a significant share price appreciation - not from my remuneration as Tonogold's CEO. let's all work together to succeed, have fun and make real money. All the best. Mark A.
As far as I understand the company will be looking at giving current shareholders priority in the capital raising so hopefully those investors that aren't currently shareholders may be "encouraged" to buy on market to become a shareholder and guarantee preferential treatment. The traditional issue with a potential raising is that new potential investors will merely try and secure stock via the capital raising. The wY that Tonogold will be giving shareholders priority means that those investors who merely sit on the sidelines risk not being to participate at all or at a much lower level than desired. This strategy should help with pre- raising pricing by securing on-market support/buying and thereby support/enhance the on- market share price which is always the basis for the pricing of the raising. That I believe is the theory which could ensure optimization of the capital raising pricing. However IMO pricing must ensure that post capital support ensures that those who participate in the new raising benefit in an immediate price appreciation. Investors who face immediate losses become despondent, disappointed and nervous and could result in a "cutting their losses" soon after the raising. These investors will be lost potentially forever. Additionally the next capital raising will have the knowledge of an immediate determination of the last raising and will either be reluctant to invest and/ or demand substantial price discount to reduce the potential of immediate share price determination. Clearly this is a complex and delicate exercise where fine tuning is critical. However you are right the first Fe days next week is going to set certain lines in the sand.
I am.
Absolutely agree.
How much their cash has grown.
Wish I could help but I'm not a seller!!
Just hoping that you pick some up and become a (bigger) part of what is becoming an exciting journey.
Good luck