why lrf is a buy, page-12

re: in the australian recomended buy I think the NTA for end of June will come in around $1.30 again, due to the downturn in the market that was present for the first half of month. Since then their holdings have realy taken off.

Just in the first week of July only

Copperco up 24%
Wegetail up 10%
Atlas Iron up 23%
Oilex up 12%
Elekdra up 18%
Matrix Metals up 24%
Encounter up 44%
Universal up 46%

The charts of these stocks look fantastic and on a fundamental basis they are all solid emerging producers. There will be some great news coming out with these over the next couple of months with annual reports and bank feasability statements coming out etc.

If you add 25% onto an NTA of $1.30, you are looking at an NTA of $1.62 . In light of what has happened this week this looks very feasable.

That said LRF at $0.85c is a no brainer.