our day in court, page-10

Maybe. Maybe not. I note that Straits SP improved on Friday.

Clearly a major holder offloading here. However it would surprise me if they had information on a matter that was only before the courts this week. I have been surprised before though. They could be taking risk off the table even if it's too late for that imo.

Personally, the prior decision on the torrens project has been well and truly factored in to the SP. In fact i think its been hammered on the basis of one matter, not seeing the forest for the trees if you like. That doesnt mean it cant go lower on a negative appeal decision but if it does then im of the opinion it would be well overdone.

I base that on ARE's other prospects, not the least of which in my opinion is the 38% interest in Blackwood Coal - valued a couple of months back at over $9m with obvious upside potential given the location of their prospects. Add in around $5-6m in cash currently, and Laos gold which doesnt look too bad either.

A market cap at present SP of about $13m. Taking out the value of Torrens, the other prospects and assets are worth considerably more than the MC in my opinion.

If there's a good result on Torrens then fantastic. If not, then so be it and more focus can be applied to other prospects.