Member Info for oilriches

Spitfire and its subsidiaries (together "the Group") recorded a loss before tax for the six months ended the 31stDecember 2013 of A$116,964 (2012: A$182,907).  With cash balances of A$6.8m, the Group has benefited from interest receipts of A$84,782 (2012 A$122,584) in the period.  Operating costs have been further reduced to A$201,746 (2012 A$305,491).   On 30th December 2013 Spitfire repurchased for cancellation 16,666,667 shares in Spitfire held by Griffin Mining Limited at 5.0 pence per share (the "Transaction"), representing a discount of 13.0% to the closing share price of a Spitfire share on 27th December 2013 of 5.75 pence. Following the transaction Spitfire has 25,884,001 shares in issue.

Agreed. the reason its illiquid is we never see any volume. At the close today it was saying i could sell 7k worth.

Of the current cash could give but upside in a small % stake in a drilling project. sro are position to get a deal that offers high upside

That's how i see it 15p is the cash value. i certainly am topping up in the morning gl

Off for a power nap before this kicks off lol

£18k went in here at 15 min near the end. interesting

I think that's all u can do on aim to make money these day. this might be worth a trade tomorrow if it stars moving

Not seen u in ages

I only got a small foot in today but will add at 8am tomorrow. the cash underpinnings makes this a fairly good bet

Losses at the company that have been accumulated are $6million. does this not look attractive for some1 to take this over and take the current cash of nearly £4million and the tax losses of £3.5million. all this for £1.8million

Noted. the spread here was very good and could get in at 6.85 well below the current sp

Yes cha hit a £30 million market cap on nothing but i think sro should be reflecting the minimum value here of 16p is to capture cash. these investment companies are doing really well at the moment and it did say in the last rns that 2014 will hopefully be the year of a new aquisition

Good post. £4 million in the bank yielding say 4% in an account covers overheads here. at £160k and circa $300k in Austin money. Bargain

That company is 180million this is 1.8million. as a cash shell with £4MILLION cash and no debt this should be priced as an other cash shell.

You must admit on cash in the bank the sp is at a massive discount?

Important prepared to take the risk here with 25million shares in issue and a good cash buffer. 15p shares price still does not cover cash levels. this will se a bit of activity tomorrow and maybe some movement.

Its was 6.85 to buy and could see 8k at 6.82. The spread was alot closer than it shows on lse. with nearly £4million in the bank i don't really see any risk as the company has no overheads

That we only have 25million shares in issue here

Up to 300mmbbl of oil in the Salmon Gums Lignite Deposit

Companies appear to be the current flavour like eg asta