RE: RE: EDV earns a blow-out $213.5 million in Q1
The valuation of the two companies is the reason they had a blow out qtr. The mark to market valuation requires you to report the true value of the holding at that date, March 31st.
EET and CRU both traded at $.42 so unless the guys at EDV have something up their sleeve they will report a big loss for the June quarter end. I did the quick numbers a couple of days ago and it came out to be a loss of $150 million or more. Obviously I don't know about their other investment banking revenues which could offset this.
Money leaves the market in the summer and the start of the rainy season (June) in West Africa will probably cap the stock prices of both EET and CRU. Would be nice to see them get the amalgamation done very soon while the POG remains high.
Wes