the story unfolding

Although I missed the bottom I like this company at the current SP. This is a good medium/long term play:

1) NTA is approx double the current Market Cap.

2) Forecast earnings after Manora comes on line are expected to be around 20c per share (PE of 2 = cheap valuation)

3) There has been some talk about debt levels. Net debt in the March Qly was almost $0 and I imagine most of the Capex for Manora has been spent? Debt should be repaid fast after production commences.

4) Other assets are of value and have not been sold at fire sale prices due to a quite strong balance sheet.

5) An analyst report stated NET cash flow from Manora will be $200m and the cash flow is months rather than years away.

If this is not a $1+ stock after EPS hits 20 cents per share I will be very surprised.