After the end of the strike at Galmoy a few months ago, Arcon shares got a bit of a push and rose as high as 34p. Since that high, however, it has all been downhill for the company in which Tony O'Reilly has a 44 per cent stake and which is run by Dr O'Reilly's son, Tony Jnr. The shares are now languishing at just over 25p, and this is down to a number of factors not least the drop in the zinc price which has fallen to $1,050 (£755) a ton from over $1,700 a ton last year. Still, the shares have found a friend in Dolmen which rates the shares "excellent value" at 27p, so presumably Dolmen thinks they are even more excellent value at around 25p.

Dolmen analysts estimate Galmoy can generate operating profits of $17.6 million for Arcon and offers an opportunity to get into a soonto-be-cash-generative mining group with exploration upside both at its existing mine and in its various other exploration interests in China, Tanzania.

Dolmen also refers to Arcon's stake in a private company called "unsure resources" with licences in the Irish midlands.

Not sure about that, but maybe Dolmen is actually thinking about the company called Onshore Resources where Arcon does have an interest.