Paper Tx The first time I watched what I watched was the"IR guy giving a presentation and I suspect this is what Bog also saw, so we are talking about different videos.
As some are aware I have followed this stock for 5-7? Yrs and thus do know a fair amount about the company.
I have listed my pluses and minuses , and while I don’t disagree that the stock “should” be trading at a higher value there are reasons = most of which relate to PALA.
My understanding is that Capstone and PALA both had invested in NCU in the $4 range, however, things changed when Capstone without telling NCU sold out to PALA.
At the same time the copper cycle was heading down.
The combination of PALA as the largest shareholder with a high cost per share, and a low copper price are very significant in the history.
As a private company ( with an interesting history of how it came by its $)PALA only answers to its owner and to a lesser degree the employees.
The result PALA finances NCU so as to reduce its average cost per share from $4 down to .51 (according to NGU)
The other question is how capable are the two young men in Zug, whose mining experience is not known. We suspect this is why the first CEO installed by PALA , was terminated and the mining contractor was fired (followed by ongoing messy lawsuits).
While we now have a new CEO with a great CV the question if the young men in Zug will let the CEO and the capable outside directors run the operation and avoid trying to learn on the job.
Thus while NGU and others can do the calculations that strongly suggest that the stock is undervalued it is important to understand “WHY THE STOCK IS UNDERVALUED”
Hopefully the price of copper will continue to improve, and secondly that my expectation that the amount of copper in the “measured” category will double or Triple!, and in my mind that the young men will just sit back and watch how mining takes place!
yes the stock is undervalued = but it is important to understand why!
Rock