sp should rocket friday, page-33

I posted this on the UK iii board on 08/04/2008, but I had not allowed for tax implications. How do taxes cut in on cfe sale?

"Shares & options on p.4(*) are interesting.
A$400 m + 13m cash gives A$0.82 per share = 38p

What value on the retained tenement?
If - pluck a figure - A$100m, > A$0.99 = 46p value.

Crude and no estimate for costs included.

At some point, holders must decide when to jump off or stay aboard for the next project.

fieldsman

P.S. I should have added that Collins Stewart (*) target of 54p is presumably based on their view that the resource is under-valued at A$400 "by 50%" compared with other valuations.

The question is, will someone bid more?"