RE: RE: TD research today target 1.75Recently purchased a position with this one and the reason I bought was more or less a value gap for the stage of development these guys are at. 0.70X book value and a shovel ready project, a fair value here would push $50 million MC putting this inline for a $1.50 short term share price which is speculative just as TD has stated.
Its hard to determine a catalyst with this one in the coming months, but I'm sure managment is looking to sell a stake in this thing to get the ball rolling. I do not think that these guys want to take on a 350 million CAPEX alone even though their capital structure as it stands is 100% equity. Either a large cap producer can scoop the entire project or MAR offers a 25% in the project giving them financial backing and project control. The value gap here is decent certainly some upside at the moment.