imp sell bmx shares, page-10

So IMP"s current undiluted market cap is $26.1 million.
$11.7 is its 4.9% holding in BMX, $2.2 million is cash, Less -$1.4 loan, so that means the gas business is currently valued at around $13.6 million.

**BMX shareprice is currently under a lot of pressure, but the company seems to be heading in the right direction. A re-rating of BMX shareprice could happen.

**The natural gas price is near recent lows, and doing nothing special despite oil at current, could be an upside kicker if gas price starts to rally.

**There is still the 44 million rights shortfall. that does not apear to have been cleared. Tolhurst has actually been a strong net buyer since the shortfall was announced.

CONCLUSION: We need more clarification of dollars being generated at the moment, I have no feel at all from what they have released so far??. But look to buy towards 1.7/1.8 cents.

GL