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Gippsland (Tantalum International Ltd)

brightncheerful
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Gippsland (Tantalum International Ltd)

#488256

Postby brightncheerful » March 22nd, 2022, 11:08 am

In November 2008 for the princely sum of £3,770.27 I bought 125,000 shares in Gippsland, via my stockbroker’s nominee account. Soon after I could have sold at a slight profit but so taken was I with the mining potential that I hung on. It wasn’t only the company’s potential, I also became interested in learning about tantalum itself.

In October 2015, the shares were consolidated 100 to 1 so I had 1250. At the top of the spreadsheet of my small holdings in quoted companies is a permanent reminder that based on a bid price equivalent of £0.0070 I had made a loss of £3821.52 which in all the years I have dabbled on the stock market is a landmark achievement: the largest loss I have ever made. :)

In April 2018 when Emerge Gaming came onto the scene, i used to check the sp every so often but as nothing exciting was happening gave up. To keep in touch, I bookmarked the ICSID website to follow the progress of Tantalum International Ltd. and Emerge Gaming Ltd. v. Arab Republic of Egypt (ICSID Case No. ARB/18/22) and every so often would check progress.

I closed my account with the brokers years ago but asked them to archive my by then 694 shares in Emerge Gaming and the same number in the unlisted Tantalum International company. Every 3 months the brokers send me a portfolio valuation, grand total value £390.00 assuming the Tantalum company at estimated AUS 1 dollar. I stopped looking at the portfolio reports long ago and after a recent tidy-up cannot find the December 2021 report so must’ve thrown it away.

This morning, I checked the arbitration proceedings and to my surprise read about the discontinuance. Searching on line I found a press release regarding the settlement and further searching Tantalum International website. I contacted the brokers and was told I had received £17.78 dividend from Emerge Gaming in November 2021, £20.02 divi from Tantalum International and in December 2021 £2.23 capital distribution, also that the current sp for Emerge Gaming is AUS $0.015 meaning that my holding is valued at £5.85

The broker’s commission for selling overseas securities is £60 so now that almost all the formalities with Tantalum International are completed the likelihood of any residual payment plus what i have received already exceeding £60 is I would think remote. It is a question of whether to hang onto my shares in Emerge Gaming in the hope that one day the sp will soar or call it a day. When I told Mrs Bnc what has happened, she reminded me she had told me to sell the shares when they were in profit but I had ignored her advice; she added that the dividends will help towards the cost of petrol for our holiday.

If you are interested in reading about the ups and downs of a junior miner and how a company whose market capitalisation in 2015 was AUS $3-4M and that in October 2021 it distributed almost A$20M to shareholders then I recommend reading the Chairman's Address at the AGM

https://tantalumint.wixsite.com/tantalumint/financial

Emerge Gaming - https://www.emergegaming.com.au

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