RE: RE: RE IAELOL. both of you are wrong....no wonder the market is mis-pricing IAE so much if no one seems to be able to figure out the actual numbers!!!!
it is 97m for about 33% of what was left after the first deal. so real value is 97m X 2 (as in 2 thirds) + 35m cash on hand = 229 / 160 = 1.43
multiply by 1.16 for USDCAD conversion = 1.66 CAD / share
Dyas only ended up with APROX (does not stand true for Athena) 50% of the original assets of IAE before the first deal, after paying 60m (first deal, took 25%), then this additional 97m ( 33% of 75% left or 25% of assets pre-first deal) 25 + 25 = 50 % of assets pre-any deal
hope it is clear now
68 cents against 1.66 is a hell of a discount any way you look at it.
anytime you can buy a debt free, cash flow positive junior with this kind of discount over net assets value, you are hitting the famous Buffetesque "margin of safety" ....
thanks to all fools that sold me at 65 and 66 cents this week
If IAE stays too long at these prices is only a matter of time before we see Dyas buying us out or someone else trying to take over