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Perhaps Lamprell will copy what their ex competitor Thalassa has done and give up the underwater business,sell up and buy in their own shares at a large discount to cash.

Daniel Thwaites have had quite good interims . The shares stand at a large discount to NAV. Market cap £91m to NAV of £167 after pension deficit. The shares would be a beneficiary of rising interest rates.

Hi Clouds, To be honest I have forgotten how I worked it out. But ,there is cash of about $ 3 million there is about is the 24% stake in LSR which is in liquidation and currently worth £6m there is £400,000 stake in Papua Mining and then there is the hopefully $30 million proceeds of the current sale and nil debt. I suspect that…

Also interesting announcement in Thalassa (THAL) regarding the sale of their main business. assuming the sale completes the assets of the company will be cash of about 150 odd p. around spring next year.

My broker says the bonds are 66.5 bid 69 offered but the minimum dealing size is 100,000. They do look interesting.


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