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Might have a punt on Monday. This moves fast anyway so any sniff of oil could get a serious re rate

Agree red. Noreco estimates that the well has a 30% chance of success and that the prospect contains between 7 MMboe and 157 MMboe, with a P50 of 38 MMboe (gross). If they hit oil then multbag. If they don't it could be curtains.

RNS out. Bad news

Tipped yesterday. Can't get any live quotes on hsbc. Need to ring up. Anyone any ideas what the sp is?

Where is everyone ?

RNS out. Very good http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/12251431.html

happy new year and to everyone else too. seems pretty positive to me. slow climb back to 40p now please

100% today. Under the radar

Love a bit of boomage ;-)

Castaway - goldies have taken a huge hit recently and I feel that unless they produce, little asset value is assigned to the SP. Different here as you say and production will obviously increase as the cash rolls in. This is my second favourite share at the moment but a good long term hold especially if gold price increases

Hi castaway. Cheers for your feedback. I've read all the reports - and I hold here. But initially it is going to be around the $3 million per year mark as far as I can tell based on the past few RNS and info on their website. Unfortunately the last RNS didn't have an exact PEA for their new strategy so I had to use the numbers from previous RNS. Obviously production will be ramped up as the money comes in so we can all increase out target prices then. ATB

Yep. The asset value is a lot higher but the market currently isn't pricing in much asset value currently especially for goldies. For example jubilee platinum should get their mining licence for their Tjate project. They have 40 million oz of platinum. Their mcap is £8 mill. Go figure.

This is a rough calculation because I can't be bothered to check exact grades. 10,000t per month at 3G/t = 30,000 grams per month. 30,000 g = roughly 1000 oz per month. Costs approx $750-800 so newco will make $500 roughly per oz. Half of that comes back to AFCR so AFCR make $250 per oz. 1000 oz x $250 = $250,000 per month profit. That's $3,000,000 per year profit or call it just under £2 mill. So how can you justify an £80 mill mcap??

I hold a few here, but where can you justify an £80 mill mcap based on the projected cash flows? They should be clearing $2 mill per annum pre tax profit based on 10,000t ore per month at current gold price. That's a long way from £80 mill????

Flying. So high in the sky. Resistance is 1.06p, but I think its more likely to be 1p IMO

I think they are hedging their bets incase this share deal gets challenged- as nottspie suggested, or there is indeed some more asset value lurking there somewhere.

this is called "3legs resources" should that be 3 legged resources? happy to see how this plays out

all strange. my money staying put.

Discuss where the circa £23 million in investments on the balance sheet is and how this is likely to be distributed in a voluntary liquidation?

St6phen- As I see it the "investments" will be liquidated and if that happens, and there seems to be no real Liabilities, then surely shareholders will get something back from that. I don't know any more but that's the way I'm reading it. No one but or sell based on what I think. But there has to be some further distribution as the company has announced it.