re: Ann: Update - Separation of Energy and Mi... Goldfinger,...

re: Ann: Update - Separation of Energy and Mi... Goldfinger, looking to punt your Tribune takings!? Well can see the green just waiting for the MD to take his turn hitting from the rough and they guys still in the clubhouse eating dim sum talking demerger and waiting for the wind to ease.

Cash backing is ~16c AUD (38.4m USD 249.5m on issue) but they may have a few trade creditors that takes that down a cent or 2 max. Unlike TBR the MD does promote this stock just not while the demerger is pending and he's even announced that to everyone's dismay!

Assets are a 60% share in a shale/tight sands unconventional gas play in China, with 100% of the costs to be reimbursed if PetroChina want it on their 40%, ground is next to SEH and being drilled by the same team that drilled a lot of SEH's early holes, so far 1 good hole and 2 holes that looked good but filled with water

Plus the old Normandy tenements that produced 2.2m ounces in the 80's-90s before Newmont took it over and inherited the rehab commitments that they spun off to Leyshon to operate but still wear most of the costs from. Anyway the demerger will see these in different entities with the energy project getting most of the cash.

I reckon its worth a punt with some potentially company making projects and it is below cash backing, Newmont owns 5%, MD has 12.55% and Ian Middlemas with 1%. Dual listed with liquidity on the AIM so a lot of stock behind the scenes with some banks making coin from the arbitrage, in other words I'd sit on the bid if you want stock and google "LRL LON" to get the AIM prices as a guide to what the banks will come in with volume to fill your order at. Just my opinion