TNR Gold Corp. States No Adverse Material Change / Proceeding as Proposed With International Lithium Spin-Off TNR.v, CZX.v, NG.to, ABX, RM.v, LIT, LI.v, WLC.v, CLQ.v, MAI.to, GRC.to, NGQ.to, SGC.v, NEM, FCX

 

"For us it is the very powerful combination: Warren Buffett, China and electric cars. Latest move by BYD into Lithium space in order to secure supply of strategic commodity confirms our observations and investment thesis. In our educational exercise on this blog we are privileged to learn from the Master himself."

"In time of quants, flash crashes and cybertraders good old common sense and understanding of basic instincts and emotions will keep us cool and our investments in our publishing business save. Yes, we will be talking about Warren Buffett. Most of the people these days will spend more time selecting the plasma TV than stocks they own. We call it "plasma TV effect". We are still wondering - why is it so difficult for us to get rid of the warm herd feeling and it is so easy to chase the stocks which are going up? "Buy when nobody wants it" - we reminded to ourselves this summer and enjoyed the party. With plasma TV we are always happy when it is on Sale, with stocks it is so difficult to buy, when they are down. Warren Buffett says: "Be Fearful When Others Are Greedy And Greedy When Others Are Fearful." What makes him different? He is able to act as he says. He was buying BYD stake when the world was falling apart in Fall 2008 and his investment of 232 million USD made an incredible 1 billion dollars paper profit by Summer 2009.



Please do not get us wrong: in order to act like this you need to be Warren Buffett, that is why we are always following him. And another very important notice: do not forget to check the plasma TV which is on sale - it should be showing video in a high definition and with a 3D sound."

  TNR Gold responds to "cyber trading" activity, about which we have wrote a few days ago. Stock is recovering now, but Scotia was still hitting at every bid with 500 shares even yesterday. Who would like to to punish the company and suppress the price of this junior? Is it mysterious hedge fund specialised in under 20 mil market caps? Is it Big Oil crashing competition from alternative energy or somebody just would like to squeeze a cheap settlement from stubborn company insisting on its property rights - we do not know and will not speculate about it. We have plenty of facts to write about, when we are talking about this company.

  Apparently, company is in the middle of its IPO financing efforts, according to the NR. Cyber trading does not help, but company is on track. Trips are scheduled to China and Europe - our take is that company is carefully considering its best options with available partners from lithium end users.

"Non-Executive Chairman and major shareholder Kirill Klip plans to participate in this financing along with other insiders." - insiders are stepping in and, according to RCR research note on TNR Gold, Kirill Klip holds 23.5% of TNR Gold already. He bought recently a large block of shares in TNR Gold - 3.3 mil at 0.21CAD in July filed on SEDI. All insiders and management are holding 50% in the company, according to IR.

  News about China are interesting, there are a few weeks of holidays normally starting in mid September - we guess it maybe the reason for a delay in closing of financing. Then again, who would like to jump into the bad marriage - IPO is very important for this company and Mariana is shaping nicely according to the latest presentation. We like to see very interesting Potash grade at Mariana among Lithium and other rare metals in International Lithium portfolio.

  Kirill Klip is involved in another junior miner in Canada - Canada Zinc Metals, that company is closing financing now with  Tongling - Chinese copper and Zinc giant will be holding more than 30% of the company. We can guess that TNR Gold and International Lithium have some introductions in China already as Canada Zinc Metals holds a "strategic investment stake in TNR Gold".

  Please, do not forget, that we own stocks we are writing about and have position in these companies. We are not providing any investment advise on this blog and there is no solicitation to buy or sell any particular company here. Always consult with your qualified financial adviser before making any investment decisions.

TNR Gold Corp. States No Adverse Material Change / Proceeding as Proposed With International Lithium Spin-Off

Press Release Source: TNR Gold Corp. On Tuesday September 28, 2010, 7:43 pm EDT

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 28, 2010) - TNR Gold Corp. ("TNR") (TSX VENTURE:TNR - News) and wholly-owned International Lithium Corp. ("ILC") (jointly the "Company") is stating that the Company knows of no adverse material change that would explain the recent market activity and is proceeding with the plan of arrangement to spin-off of the Company's rare metal projects into International Lithium Corp.

In order to complete the plan of arrangement, the Company is intending to raise a minimum of $2.5 million to provide International Lithium with sufficient operating and administration funds to satisfy Exchange requirements for listing. The proposed financing will entail the offering of a minimum of 10 million units in ILC priced at $0.25 per Unit. Each Unit consists of one common share and one common share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share of ILC at a price of $0.375 for a period of two years from the date of closing. Certain fees may be payable for a portion of the placement.

Company executives are focused on the completion of the private placement in an expeditious manner including traveling abroad to China and Europe to transact with potential investors and end product users that the Company has developed strong relationships with over the course of the last year.

Non-Executive Chairman and major shareholder Kirill Klip plans to participate in this financing along with other insiders.

Upon closing of the financing the Company will file the required final paperwork with the applicable regulatory bodies in order to complete the listing process of International Lithium Corp.

ABOUT TNR GOLD CORP. / INTERNATIONAL LITHIUM CORP

The Company is a diversified international metals exploration company focusing on the continued advancement of existing properties and identifying and acquiring new prospective projects. The Company has a portfolio of 18 active projects, of which 9 rare metals projects, including Mariana, will be held or optioned to the Company's wholly owned subsidiary International Lithium Corp upon completion of a proposed plan of arrangement.

The objective of the proposed plan of arrangement is to spin out the Company's rare metals property interests into a separate public company, International Lithium Corp. This proposed plan of arrangement has been approved by the Company's shareholders and the courts of British Columbia. The Company will now proceed with the spin out and will provide updates on the progress of the spinout in further news releases. For further details of the spinout, please refer to Stockwatch news dated May 26, 2010, or visit International Lithium's website.

The recent acquisition of lithium, other rare metals and rare-earth elements projects in Argentina, Canada, USA and Ireland confirms the combined companies' commitments to generating projects, diversifying its markets, and building shareholder value.

On behalf of the board,

Gary Schellenberg, President

Statements in this press release other than purely historical information, historical estimates should not be relied upon, including statements relating to the Company's future plans and objectives or expected results, are forward-looking statements. News release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."

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CS. Naked Short Selling or just market manipulations?

  We have almost missed this one - we were busy on Friday. When we checked our screen with TNR Gold trading below 0.16CAD at one point, we thought it is a Flash Crash in the markets again.

  But markets were...fine, DOW was strongly Up, US Dollar down and Gold was holding at new high. Situation became even more interesting when we have checked the tape: 

Recent Trades - Last 10 of 182

Time ET Ex Price Change Volume Buyer Seller Markers

15:59:01 V 0.16 -0.005 500 9 BMO Nesbitt 85 Scotia K

15:56:37 V 0.16 -0.005 500 9 BMO Nesbitt 85 Scotia K

15:54:13 V 0.16 -0.005 500 9 BMO Nesbitt 85 Scotia K

15:51:43 V 0.16 -0.005 500 9 BMO Nesbitt 85 Scotia K

15:49:19 V 0.16 -0.005 500 85 Scotia 85 Scotia K

15:47:02 V 0.165 0.00 6,000 7 TD Sec 9 BMO Nesbitt K

15:46:55 V 0.16 -0.005 500 85 Scotia 85 Scotia K

15:44:25 V 0.16 -0.005 500 85 Scotia 85 Scotia K

15:41:49 V 0.16 -0.005 500 85 Scotia 85 Scotia K

15:39:13 V 0.16 -0.005 500 85 Scotia 85 Scotia K

  Who would be hitting every 180 second every bid just to drive share price lower? If you are selling your position you would, normally, wish the highest price? What kind of hedge fund will be engaged in algorithmic trade with daily volume below 100k CAD?

  We have seen this before with other companies, so we have checked all vital signs first: lights were on in the office and phone line manned, Gary Schellenberg was not on the list of passengers destined to Panama - secretary politely informed that he is attending the business meeting and IR have sent us a message:

"Thank you for your interest in TNR Gold and International Lithium.

We are aiming to complete the IPO financing for ILC as that is the only


factor delaying the process at this point - TSX, BC Courts, and our


shareholders have all approved of the spinoff.


In regards to any sales, management and insider hold nearly 50% of


outstanding equity and all sales are reported via SEDI and CanadianInsiders.


As far as we can see management and our major shareholders have only been


acquiring more shares with the lower share price of late.


If you have any more questions please feel free to get hold of us.


Regards,
Jerry Huang


VP Corporate Development


TNR Gold Corp. (TNR.V)"


  Today we have found Retire Fund with its new blog entry:

TNR Gold Corp, Gold, Lithium and Rare Earth Metals, all in one package!!

and Kirill Klip seems to be fine on his Linked In page and even has posted new Presentation for International Lithium over there.

  We hope that this mystery will be resolved on Monday and we will see, whether "Rise of the Machines" against TNR Gold will happen again. For every seller there is the buyer, now it is getting crowded at the bid side and we will monitor insiders' reports to find out who was buying.

  After all what happened with Minera Andes last week someone would think that TNR Gold should be on the rise as well, but it was not the case.

  Then again, maybe it is the message of some kind to the company. We can see some logic to drive the share price lower in a case of some kind of a bid for the company or parts of its operations, but we are in Canada - who would play such dirty games? And message from the IR told us that insiders own nearly 50% of the company - we guess they will not go cheap this time. We do not believe that it is the case here.

  So we will search for the news about hedge funds specialising in cybertrading in junior miners with market cap below 20 mil - they must be making a killing in a sleepy Vancouver or maybe it is Big Oil taking on the company with its lithium dreams? We have more questions than answers for sure now.

 

  In any case be careful here, do your own DD, do not let you to be shaken from the tree and do not mess with the big boys, let them settle things straight between them, but make sure it is not at your expense.

  We will monitor the situation: time will tell us whether it is a Christmas sale came early this year or we will have some other cybertraders in the markets with a special mission to punish junior miners.

We have a position in these companies, please, do not consider anything as an investment advise, as usual, on this blog.

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