RE: RE: Why the ValuationWhere is the error here? - I have done this about 8 times - somethingmust be wrong -- Help
Well... I won't argue with your figures because I don't have a very clear idea of how to arrive at a proper value, but using your numbers I see one error. Cliffs 111 million shares don't qualify for the DDI distribution so that drops the outstanding, that do, down to around 477 million. That would give you around .18 cents per share on a 1 for 10 distribution of 48 million shares. It will be very interesting to see what Cormark comes up with in their valuation.
SRV