Mindoro Interest in Nickel ProjectWith the price of nickel so high, I was wondering about the value of TVI's interest in Mindoro. TVI owns 14.4% of Mindoro and Mindoro owns 100% of Mindoro Nickel which owns 40% of AMVI. Wouldn't that mean that TVI, effectively, holds 5.76% of AMVI through its ownership share in Mindoro in addition to its share in AMVI that it holds through its 30.66% interest in TVI Resources which holds 60% of TVI Resources? But, as I understand it, TVI's interest in Mindoro is valued at zero.
Can someone explain this to me or explain where I have gone wrong?