When I last posted a comment on Amara Mining on 29th February, I mentioned that despite the uplift in price following the offer from Perseus, the share price was not reflecting the full value of the Perseus share portion of the offer and was ascribing no value to the warrants. At the time I said that although I was not sure whether I wanted to hold Perseus shares longer term, “given the significant gap between the offer on the table and the share price it seems to me sensible to hold for now in any event”.

Now with the acquisition approved by shareholders and soon to close, the gap between offer value and share price has narrowed (or indeed closed depending on your view of the value of the warrants). So I have just sold all 41,000 Amara shares I held at 16p per share, realising an 82% profit on my average purchase price of 8.8p.

I will need to think what to do with the resulting cash as I already had £5,506 prior to this. However that can be tomorrow’s problem – for once I thought I would get this to you hot off the press.

Contrarian currently stands at £123,946.