Member Info for EyeGuy

So the company has £23.52 million in investments on the end of year balance sheet (not cash). Following completion of the Capital Return and in the absence of a suitable alternative course of action, the Company intends to put itself into a members' voluntary liquidation as soon as possible, and in any event by 31 March 2015, to be followed by a final distribution to be made at the conclusion of the liquidation. So does this "final distribution" include the £23.52 of investments? Think I'll leave my £200 in just in case

http://www.lse.co.uk/share-fundamentals.asp?shareprice=3LEG&share=3legs_resources

According to last years accounts, assets which mainly consist of cash in the bank and investments are £52.99 million. So where is the rest of the cash after shareholders are paid? Haven't had chance to read up properly

I agree Nottspie. I have £200 quids worth (that I made earlier).

Nottspie. Good point. So what of the folks who were buying yesterday at 18p? Seems they wouldn't get paid out either.

second resistance is 1.61 hence the fall back previously if you believe in the charts

1.05p bit of volume and its there

think you have given a good summary there about the risks about Zimb, which at the moment are actually pretty low from PREM in this project for a lot of reasons. Hope you all do well here guys.

cheers awax. Like I said there are not many tungsten plays on AIM production ready. And having this knowledge to hand is how most money for us PI's is made. ATB

Awax- TBH I don't know enough about this to make a judgment. But there aren't many new tungsten plays on AIM pretty much production ready to compare so Ive plugged the sums. Prem's IRR at $288 MTU is 455% as opposed to between 19.9 and 56 % of this depending on the tungsten price. The cash flows actually are similar between the 2, but PREM only needs between $3-5 mill of funds IMO. Prem doesn't have the offtake signed though and you do. And Orms mcap is 5x higher. This should do well, but its only reaffirmed my belief that PREM is undervalued probably by a factor of 5-10 x currently. Its worth the comparison for knowledge IMO. Im one of the good guys here and Im not ramping/deramping.

in PREM? Never heard of this one until today. But I have looked at this and managed to do a comparison with PREM's RHA tungsten project of IRR, NPV etc.

ill post first

IMO. The RNS is designed to be read by shareholders. That's what the RNS service is for . Rubbing your face in it springs to mind

Very positive. Good slow burner this stock

Out!!

"but the discussions with the investor which might have resulted in little value in the equity have ended. As a consequence the Directors have requested the immediate suspension " So the third party involved offered the glimmer of hope that shareholders would get something back. Hence the shares still traded. When this investor pulled the plug, then the shares can't trade. The "little value" still allowed this to trade. So the continuation of this business as AIM listed London mining has stopped. Sorry for the losses guys. Hope you make it elsewhere soon.

Voger- they have £435 in liabilities. The assets are valued at £500 mill. Surely In country with Ebola where they are and will struggle to generate any revenue for the near future, with a depressed iron ore market then surely the assets can't be valued at that.

Darrenp Click on the "fundamentals" and look at the liabilities from EOY 2013. Circa £400 million. Then look at the assets. The assets currently have much less value than stated at the moment IMO as they are not making any profit. Also with Ebola and the price of iron ore, realistically who is going to buy them out. If you had a spare £200-400 million would you buy them out?

The BOD were in talks with a third party which would have resulted in "little shareholder value" IE shareholders could have got a little back. That has ended. The talks with any subsequent party will result in no shareholder value and London mining in this current form will not continue. Ie there may be interested parties but they will cherry lock what they want from the creditors and shareholders will get nothing. It's all there in black and white on the RNS and IMO isn't ambiguous. ATB for everyone and hope you make your losses back elsewhere.

Unlikely to get anything back now