After a chat with the Ceo Nick Lee i felt enthused at what is happening at paternoster, The Micro-cap Investment fund has worked well during 2012 from a financial perspective having increased its fund ...value from £500,000 to in excess of £2,000,000 during the 12months with a £3m+ Net asset value we can see that here in the accounts:



http://www.investegate.co.uk/paternoster-res.-(prs)/rns/unaudited-results-for-the-6-months-to-30-june-2012/201208200700032993K/



The Net asset value increased by +43% during the year due to a savvy in-out Investment in Ldp over a 5 week period which not only netted £2.8m from a initial £400k Investment it also secured 166million Warrants with a 0.15p exercise value. (this means in laymans terms that Prs can re-invest again at 0.15p if there is the value there are leave the warrants to expire, Prs have no cash exposure to Ldp therfore we choose if we want re-entry)



I won't concentrate to much on the finacials and how undervalued Prs is currently refer to this link:



http://www.stockopedia.com/content/paternoster-resource-plc-69892/



Whilst discussing PRS I expressed to Nick Lee that the news flow was somewhat limited considering the great moves the company have made during 2012 which has stimulated some public blog discussions which had taken various educated guesses at where and what we were planning or working on.

The company's Investment policy is highlighted below:




The Company may make indirect investments via:

• Quoted companies
• Unquoted companies seeking a public quotation
• Candidates for reverse transactions into quoted investment companies

This was in direct relation to Paternosters position in Bison Energy and Bison listing being something that is when and not if ? Going by the company's own Investment strategy, Nick as with all questions was keen not to cross any regulatory lines, However he did confirm that this was the case with Bison Energy.

Its is my opinion from the chat, Bison will list and make the value of PRS position correlate much easy than currently as a private company. Bison Energy has raised $7.6m with Prs taking a $200k announced position with a additional (Increased position), It is my understanding that Bison Energy own a asset in Wisconsin therefore we own a…

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