Ann: Lochinvar Scoping Study Update, page-40

$9m market cap is ridiculous and doesn’t even reflect the look through value of Redmoor let alone gold and coal. I think Lochinvar is a long shot to be developed by NAE but it does have strategic value and should at least add a couple of cents to the share price

One shouldn’t be surprised at this though, I have held for a few years having bought in the last time Lochinvar was being progressed. The management team have never been able to get the market to value NAE’s assets properly and this time around is no different.