RE:RE:Valuation AttemptsThe stock is at this level because market has no confidence in management and board.
I dont know about regulations of being a public company in Canada. Is it technically possible for management to take the PNG business private at say $20-$25 mil (which is 2x EBITDA) which is roughly 0.50/share ?. Market can value Canadian business at roughly $10-$12 mil based on market conditions and uncertainty around the tax losses. It'll be a penny stock trading on the venture exchange. If this happens then current valuation will be roughly accurate.
The question is - can they take the PNG business private at any valuation ?
They need 75% votes but Cyrus owns 45%, Mike Binnon owns about 4% and in the recent AGMs about 30 mil votes were cast. So they dont need retail votes to pass this.