RE: List of peers HRG should be trading at 20X, based on similar metrics.
I suspect that if you hired Paradingthem (Paradigm) to sell HRG they would argue 20x is fair an reasonable. Since they get paid lots to spin the truth, we get 9X maybe 10X.
Now the real story, Larry and Curly (our two independent BOD's) were part of a super secret special committee to discuss special stuff, in secret, near the Yukon at the Seversteal hideout (former DEW line radar station). After six weeks of using the L'il Tykes super computer (yes the yellow one, with the big buttons, and battery flashing lights) Larry and Curly were still horribly confused. Oh what to do? Apparently they consulted with Wiarton Willie to settle the valuation methodology as Paradigm felt we should pay Nordgold for the privilege of all the cool de-bottlenecking they did. Apparently all that was required for de-bottlenecking was a really big can of WD-40. The reason it took so long was because the Russians though it was deodorant, enough said about that.
In the end the special committee produced the following report. Committee Report Assessment Plan for submission. Not to be confused with the former Focused Uniform Committee Kommittee - Official Final Findings.
CJ