Took a punt on this a few months back....thanks EK...who tipped this and brought it to my attention !.....looks good for Aminex as well...

Someone bought 145,000 @ 9.31am ,delayed trade

Doing well this one.....at least that's one I've got right !....

Same here rf, something positive at last.

http://www.investegate.co.uk/Article.aspx?id=201201050700140248V

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If it had been a takeover, it would have been better.....as such many sales like this fall through.....ZEN did the same thing if I remember correctly....COV is in much better shape.....just happens that I'm not in and took a few profits before christmas....not sure about this....

i don't perceive much upside but plenty down if no acceptable bid materialises

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No. It's the whole company up for sale as the Rovuma assets form a large part of the company.
This is where the arbitrage guys start to make their money as someone will need to put a true value on the whole company and then hope for a bid and maybe a counter bid to push the sp up. Worth trading it, imo, but a bit risky holding long term as it may not reach the asking price.

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Not immedaitely obvious, but this is the crucial bit, imo:
"Rovuma Area 1 Interest represents a substantial portion of Cove's asset value within the portfolio of focussed and complementary assets which the Company has built in East Africa. As such the Directors have unanimously agreed that a sale of the Company may be appropriate at this time. The Directors have decided to conduct a formal sale process for the entire issued and to be issued share capital of the Company."

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I'm in and in quite good profit, for a change. whats the opinion, take it now or what of the chances of somemore to come?? anybody.,.

If there is no immediate new news : a pullback might be on the cards....these sales of companies can take several years, it has been known....then again...a well is in progress.....toss of a coin....myself...I would bank....

thanks rf noted.,.

Wait for a broker report, imo, to see what the comapny is worth and what a realistic price may be. Whole bid & sale process may take months, so lots of ups and downs along the way!

watch and trade maybe harrry??

my advice is just watch!

Thanks cynic, decided there was more going on in gkp so sold and plonked it in there.,.