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Real-Time news about Natasa Min (London Stock Exchange): 0 recent articles
|hugepants: Made a mistake in the above post since the net working capital is in fact "available-for-sale listed equity securities". Described in the accounts as ;
"..The available-for-sale listed equity securities comprise securities in companies operating in the mining and natural resources sector as well as holdings in major companies operating in other sectors. Although the Company's investment strategy is to focus on pre-production and/or producing resource opportunities it also holds securities in major companies operating in other sectors in order to maximise the overall return to shareholders..."
NSN's 40% stake in UEP is currently valued at £5.5M based on the current UEP share price. The entire market cap of NSN is only £7M! However I reckon UEP is only going to have value if CNOOC decide to drill whereupon UEP can sit back and see what happens, only having to pay out their share of exploration costs from future production.|
|tomboyb: They know its cheap and th buyback has been becasue of the frustrating share price - £1 +|
|horndean eagle: The threat of a buyback in the offing seems to have done the trick with regards to bumping up the share price. Not really caught the imagination of your average retail punter yet. When that happens we might start to reflect the underlying NAV of our portfolio.|
|lr2: Keep buying shares for treasury. Make huge profit on Fox Creek licences. Watch NSN share price move up. Sell treasury shares back to market for a future profit. Pay shareholders a special dividend from the proceeds.|
|horndean eagle: Stemis - Not sure if you are still around but perhaps you could put up the share price for UEP in the header. PNG had a big oil find earlier this week. Perhaps that is helping sentiment over at UEP.|
|lr2: Can someone confirm or otherwise debunk the following figures please?
I am trying to get a feel for the asset value of NSN following the capital repayment.
Cash - US$50+ million as per 21/04 Quarterly Activities note - less capital repayment today of $10.24 million - $39.76+ million or approx £24.25 million.
UNV - 17,538,462 shares in Universal Coal (UNV) - 8.89% of company. Quoted in Australia at 29c currently. Total value = AU$5.08 million or £3.25 million equivalent.
UEP - UMC Energy (UEP) - 83.5% of company - 244,444,763 shares in total so 204,111,307 shares approx to NSN - at current 4.5p - approx £9.18 million.
Puquios Copper exploration assets - value unknown.
Kryso warrants - 5 million at 15p - £0.75 million.
Total value (£24.25 + £3.25 + £9.18 + £0.75) = £37.43 million.
NSN - share total 29,241,951.
Approx. asset value per share - £37.43 / 29.24 = £1.28.|
|daytraders: HugePants- i know what your saying, but it would be like 21p off of the then 57p sale wouldunt it ? anyway cheap how ever you look at it i suppose, maybe it was not meant to be marked down, maybe the payment was to make the nav more right ?, but it did say in there rns that the share price would be adjusted on the 17th or to that effect, either way all good i suppose.
and the shares will be quoted ex-capital repayment on AIM on 17 August 2011.|
|hugepants: I reckon the NAV here is prudently 115p. They have in excess of $50M funds, probably more looking at the last results and the $2.3M profit since the balance sheet date. Thats 105p. On top is the UEP stake. The current value of the UEP stake is approx 30p per share but it looks overvalued. If its worth 10p then total is 115p.
You seem to be able to buy at 64p and sell at 59 so current share price is 61.5p. Thats a 46% discount to NAV.
When they return the 21p per share then for the 46% NAV discount to be maintained the share price should only drop 11.5p to 50p by my calcs (the new NAV is 94p).|
|hugepants: I think its even more of a buy now. 35 cents is 21p per share. Once thats returned there will be about 85p of cash + financial assets left. Plus the 80% stake in UEP whatever thats worth. If the share price drops by 21p after the distribution it will be 45p which is too low.|
|hugepants: Looks good value again at 62.5p to buy. Got a few today and friday. Also the UEP stake is worth 20p a share based on the current UEP share price.|
Natasa Min share price data is direct from the London Stock Exchange