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...

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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.,.

Peel Hunt valuation:
"In terms of valuation, on a risked basis our current RENAV of £813.4m or 166p/share comprises £21.6m/4p for Tanzania, £109m/22p of net cash, -£9.5m/-2p for G&A, £553.8m/113p for Mozambique and £138.5m or 29p for additional exploration upside. For illustrative purposes and considering Mozambique specifically, on a fully unrisked basis our valuation would rise to £692.3m/141p/share, this assumes a recoverable gas volume of 18Tcf.
We highlight that our risked valuation for Rovuma alone (113p/share) supports the current market capitalization of the company serving to discount the rest of the portfolio and any additional exploration upside. In our opinion this indicates clear upside to our 166p target price."

Cynic

Do you hold these , i have a 67% profit on these now, its tempting to sell

not one of mine; not sure if i ever have ..... as i said above, risk much heavier than reward at this level

one of TFC 's share's , but so was NYO

so what? ..... times and situations change .... you've got a good profit so bank at least a good portion of it and put it somewhere else

here here.,.

were were ... ?