Only had a very quick look so far, but the following stood...

Only had a very quick look so far, but the following stood out:

NTA of $0.98 vs current share price of $0.68. So tangible assets are almost 50% above current share price.

In this is QLD assets "carrying value" of $62m. Note this is the "COST" not the price they expect to realise. This would be the value of what they have spent acquiring, exploring and developing. So I am expecting they deliver a much higher figure than that in the sales process.

Also this in relation to the buyback:

Since 30 May 2011, the company has bought back and cancelled approximately 5.6 million shares for a total cost of $4.3m as part of an ongoing on-market buyback. This buyback has been suspended during the blackout period associated with the finalisation of the company?s annual results, and as
foreshadowed earlier, will recommence once the outcome of the current divestment process related to the Queensland assets is known and released to the market.

So QLD asset sale has reached a "material" stage, so they aren't allowed to buyback any shares still.