Post by
nickbillfish on Jun 17, 2017 12:18pm
Discount to NAV of holdings
Appears we are trading at a greater than 50% discount of our holdings/investments. What am I missing, we have 630,000,000 shares x .17 = 107 Million. Cash is 78 million, meaning 107M-78M = 29M for our Investments. They said as of April 26th we had 89M in investments, but since then Corsa Coal is down greater than 30%. In play reported positive results. Seems like we are back in the same spot as before just more cash, which is good. The 201M in 2022 warrants at .33cents imply we need to double from here!
Comment by
nickbillfish on Jun 18, 2017 9:28am
Correction Inplay posted good results but stock has swooned by 30% as well since end of March. Good article here and they have been granted a buyback on the 12th. SRHI should increase our position at these prices. https://seekingalpha.com/article/4081341-inplay-oil-huge-start
Comment by
nickbillfish on Jun 18, 2017 9:31am
Stock buyback approved the 14th https://www.marketwired.com/press-release/inplay-receives-tsx-approval-for-normal-course-issuer-bid-tsx-ipo-2221810.htm
Comment by
nickbillfish on Jun 20, 2017 7:42pm
Also Corsa Coal opened its new mine this month in Pennsylvania. Should help the cause especially since Trump taking credit. https://dailycaller.com/2017/06/11/another-promise-kept-first-coal-mine-opens-under-trump-administration/
Comment by
nickbillfish on Jun 20, 2017 11:28pm
Another article on new mine, in article Corsa expects to double sales. Should help NAV a lot. https://powersource.post-gazette.com/powersource/companies/2017/06/08/Coal-mines-political-economic-debate-industry-Somerset-County-Pennsylvania/stories/201706080146
Comment by
tellnolies on Jul 06, 2017 1:42am
Market doesn like cash . They like the products that produces the cash !
Comment by
nickbillfish on Jul 14, 2017 6:11pm
Closed at .155 today or a market cap of $100M. $78M in cash, so $22M for our assets the said were worth $89M back in April. With Corsa down probably in the $70M range. I'm sure Rick Rule made us some money on the rebalance of GDX and GDXJ. This is a really good buy here, expectations of using the money not priced in.