GREY:OLEPF - Post by User
Post by
tony1969on Feb 23, 2013 7:24pm
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Post# 21033928
How cheap is OLE?
How cheap is OLE? OLE is so undervalued right now at $.57 that TGZ can buy 30% of the entire OJVG that they do not own for the $45 million in cash that they had on Dec 31st 2012. That is 30% of the portion that they do not own of public OLE, 30% of Bendon's stake and 30% of Badr's stake which is minimal.
Oromin - 118.7 million shares not owned at .57 = $67.6 million
Bendon - 137.4 million shares at .57 = $78.3
Badr???? Maybe 3 to 3.5% of project. At .57 about $4 million
Total TGZ does not own $149.9 million / $45 million = 30%
That is how cheap OLE is. If you sell here you are giving it away. Just my opinion.