@ 10p per share this look like a good buy, the share has been upto 19p is currently testing the bottom, have bought some myself need your input on this one.

some fairly shameless manipulation going on here. I've never known a share fluctuate 50% in a week just on market makers dicking around. There should be a law against it!

comiserations to anyone who was stopped out by this immoral activity.

Looks like they have some promising investments and good management. Reading the interims for LNR, sounds like things will start moving in the final quarter of 2006.

Libra Natural Resources plc

('LNR' or 'the Company')


Preliminary announcement of unaudited results for the twelve months ended 31
December 2006


Libra Natural Resources plc, the international cleaner fuel company, today
announces its preliminary results for the twelve months ended 31 December 2006.

Financial highlights

Pre tax profit of 2.547m (2005: 156,000 loss)
Basic EPS 1.16 p (2005: 0.09p loss)
Net assets of 9.06m (2005: 1.89m)
Current cash in bank, in excess of 2 million (post wood pellet upgrade
investment)

Operational highlights

Successful development of one of North America's leading wood pellet
operations, through the acquisition of Westwood Fibre Co and Princeton
Co-generation Company.
Completion of investment in Prometheus Energy Company Inc, and successful
listing of the company's equity on London's Alternative Investment Market.
Completion of investment in waste coal processing operations in
Springfield, Illinois. Focus on roll-out of operations onto other sites and
development of royalty-based business model.
Significant management and Board enhancements. Additional management
appointments included Glenn Smith, who has a broad background in global
energy financing and project markets, as CIO and John Stirling, who brings
substantial technical and management experience in the renewables industry,
as Head of North American Operations.
Appointment of Mark Campanale to the Board of Directors as senior
non-executive director, bringing significant experience and contacts in the
international renewable and SRI fund management markets.

Since year end

Following an exceptional first period of integration of newly formed
business unit, termination of discussions to de-merge Company's wood pellet
operations.
Strengthening of the Company's balance sheet and future investment
capability through 3.5 million equity issue. Take up by several blue chip
UK investors, new to the company, significantly enhancing investor base.
Initiation of C$3 million upgrade investment programme in existing Canadian
wood pellet facilities. Completed Q3 2007. Immediately earnings enhancing.
Announcement of next series of planned investments in wood pellet
operations; expansion into United States market for first time.


Strategy

Following completion of the Strategic Review, announced in March, your
Company intends to focus increasingly on the substantial, near-term growth
opportunities within the international wood pellet sector, one of the most
attractive, earnings-based, niches in the global renewable energy
marketplace.
Implementation of this strategy to involve significant increase in the
size, scale and range of investments into the wood pellet manufacturing
market, and the potential for entering into strategic financial and
commercial partnerships and joint ventures.
The evolution of this strategy, to create a stand-alone, world-leading,
wood-to-energy operational business, will entail the active management of
the Company's other investments to create additional near-term shareholder
value.
Creation of 'pure-play' wood-to-energy business, expected to be completed
by end of 2007.


Commenting on the results, Peter Greensmith, Chief Executive Officer of Libra Natural Resources plc, said: 'We are extremely pleased with the underlying performance of the business in our first full year as a public company. During 2006, we have invested heavily in building up a range of operational and investment assets in the international waste to energy marketplace. As our results today demonstrate, in terms of return on this investment, your Company is already able to evidence real, substantial, progress.

'As a consequence of this very active investment phase, LNR is a fundamentally different entity from a year ago. 2007 promises to bring further significant development of your Company's strategy, as we complete the transformation of LNR into a focused, operational entity.

'Your Board believes that LNR's wood pellet operations represent an extraordinary business opportunity, and initial un-audited indications for the first quarter of 2007, with record pellet production and revenues, strengthens this belief.

'We look forward with real confidence to the coming year as LNR continues its strategy of building, demonstrable shareholder value.'


- Ends -

Here is the full results article

Other selected ditties from within it:

Chief Exec: "we have now positioned LNR as one of North America's leading manufacturers of wood pellets."

Chief Exec: "I am very pleased to inform shareholders that the integration of PCC and Westwood is progressing extremely well, and the financial and operational performance of the combined operations during the first period of 2007 has exceeded management expectations."

Chief Exec: "Demand for our wood pellets is exceptionally strong with revenue per ton above projections across the entire business."

Chief Exec: "As shareholders will know, your Board believes that our wood pellet business, in particular, provides a tremendous opportunity to develop a world-leading market position in a fast-growing, profitable niche in the renewable energy sector.
Again, as previously announced, your Board believes that this potential is not currently fully reflected in LNR's share price."

tipped by tips.com: target 32p.