Biggest short term driver, kinda out of left field, is todays announcement they are " implementing an on-market buyback for up to 10% of its issued capital over the period of 12 months." Buy back starts in two weeks for 20mill shares...
Based in Madagascar, they also have a coal asset worth up to $10-15mill, and in the final stages of the process seeking approval for an IPP (to build power station).
I tipped this previously and paste previous info, Top 20 own 82%
Flagship asset Imaloto Coal Project in Madagascar.
- The Company has been working towards being issued an Independent Power Producing Concession that would provide Lemur with the right to operate and construct a coal fired power station in near proximity to the Imaloto Coal Project.In the event that an IPP concession is awarded, it is the Company’s intention to bring in a strategic equity partner (“SEP”) to fund, construct and operate the power station. Several SEPs have been identified and preliminary discussions have commenced. Phase 1 includes an initial truck and shovel open pit mining operation whereby the Main Seam will be mined, crushed, screened and sold RAW to a proposed coal fired Independent Power Producer (“IPP”), which is planned to be located adjacent to the mine. Initial capital for Phase 1 is estimated at approximately US$12 million with a LOM of 9 years.
- Failed takeover attempt earlier in the year, with suitor purchasing just under 3% of shares from sub holder recently.
