RE:Valuing the PNG Bus w/rights offering
The price of the PNG rights can't be artificially set at $0.75 just because that equals the dividend payout and creates ease for shareholders to purchase the rights. I would be very pleased if it was $3.00 and I wasn't able to afford the rights because that $3 would flow to the Canadian listed HWO that I already own.
As long as PNG is independently and fairly valued I'm OK with it. Having said that it seems that merely waiting (doing nothing) for the PNG business to fully ramp up would force the market to recognize the current gross undervaluation. This was once a $5 to $6 stock when PNG was fully ramped.
Maybe a little promotion and an active NCIB would help.
Bottom line $0.75 cash divvy and $0.75 for PNG ($1.50 total) ust doesn't cut it.