If a farm-in deal is done on Barryroe, these shares are very cheap. Even a 10% carry on current valuations would put LOGP into orbit. Remember the capitalisation is only £50m, and they have 20% of the asset. 2% of Barryroe could be worth a billion. See detailed calculations in Phoenix magazine, 31 May. No doubt they are optimistic, but there is plenty to spare. They also have 100% of some nearby prospects. Of course there may be no deal; that's the chance you take. Obviously someone thinks it's worth taking.
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