Lonrho Africa, Time to BUY?

guys ------noted this from the Guardian market Report-

The cash shell Lonrho Africa was the standout feature in the small-cap arena. Its shares surged 3.75p to 16.75p after JO Hambro Capital Management offloaded the majority of its 26% holding. Traders believe the stock was picked by existing shareholders and David Lenigas, the Australian mining veteran who was named yesterday as the company's new chief executive.

Mr Lenigas is known in the City for bringing Asia Energy - developer of the huge Phulbari coal mine in Bangladesh - to market. Asia Energy, off 40.5p at 359p yesterday, has been one of the best-performing mining stocks on Aim since it floated at 75p in April 2004. Traders expect Mr Lenigas to mastermind a deal that will see an African-based mining project reversed into Lonrho, which has £23m in cash and liquid assets.