With acknowledgements to Sobeit on iii thread (long term holder of over 5 years). This is a pretty good post he made which illustrates the low risk here at the present SP Level:
While the SeaEnergy move was good for Lansdowne there are a few other things about Lansdowne that make them interesting.
The first is that Lansdowne is protected from liquidation by its holding in Barryroe. If it was to get into financial trouble before a farm-out it is clear it has enough value in Barryroe to satisfy its current share price and probably a price up to 5p. After all, even in a fire sale, Lansdowne's 20% in Barryroe is worth far more than £30m.
To show that Lansdowne, at its current price, is undervalued you only need to check out
There you will see that 4 major shareholders hold over 50% of the equity with LC Capital Master Fund Ltd holding over 27% alone. Are all of these charity cases? Definitely not.
So, at some point Barryroe will come into focus and the share price will reflect more of its value than it does at present.
And just to discount that there is anything wrong with Barryroe you have only got to check out Mott MacDonald, the major consultancy firm, who did the Barryroe feasibility study in 2013 and who still have it on their website to know that they would not have it there if there was anything wrong.
Go to the following link and page down to where you see under Projects "Barryroe" and you can read what they did for Lansdowne and Providence and since it is still there, nothing has changed in the meantime.
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