16 September 2015
In recent weeks the value of our holding in Mosman Oil and Gas has increased significantly with a corresponding effect on the net asset backing of your shares. The net tangible asset backing (NTA) per Aorere share has increased 78% (from 0.18 cents per share to 0.32 cents per share) since 1 September.
In view of this substantial Mosman value increase we made the decision to rebalance the portfolio and have reduced our holding in Mosman to just over 5 million shares (3.46% of Mosman’s issued capital). This has released cash and created the ability for Aorere to invest in other projects.
Our Mosman shareholding remains our largest portfolio asset and we look forward with anticipation to participating in the ongoing growth of this dynamically managed company.
Chris Castle, Managing Director
Aorere Resources Ltd