talon valuation minimum 12c to 14c, page-29

The cash-backing is $7,829,000, as per this recent ANN:

Updated Cash Reconciliation:

http://hotcopper.com.au/announcements.asp?id=535344

Talon Petroleum Limited
Cash Reconciliation
Estimate as at 20 February 2013
$’000
Pro forma cash and cash equivalents 30 September 20
12
12,039
Net capital and operating cashflows 1 October 2012
to anticipated date of ASX admission
(2,470)
Cash to be retained by Texon Petroleum Ltd under th
e terms of the Demerger Deed
(1,740)
Estimated cash and cash equivalents at date of ASX
admission
7,829m
_____________

The market cap is $7,163,924 @ 7.3c, so still under cash-backing. It's amazing how people just almost give away things that they see as being "free", a la Talon. No consideration in the share price at all for the assets.

This one will move, for sure, and the market knows that, because there are buyers stepping up. I missed out on the takeover, and I know when I buy Talon, I will be buying your free shares, holders :P. Having said that, just because they were free, it doesn't mean they have no value. Talon will, if it keeps being sold as it is, look utterly tantalising. Money to be made here, imo.