RE:RE:RE:Les Affaires articleFollowing up on the math from athe article.
Updating my model using the 40% equity and $50 M raise gives an ouput of a Project Rose valuation of $4.74 - Add in other projects and catalyst outlined in previoius post - gets you to the $5 mark - a $1B company.
Stripping out the $85M from HELM (.25 X $345M) provides CRE with a valuation of $2.53 for Rose and 20 cents (estimate for now on other projects and catalyst) gives a $2.74 target. So when the announcent comes out - I would be surprised to see the Cannacord target in the $2.5-$3 range for CRE.
I am still holding out hope for even more upside as it sounds like JSL only mentioned what was known - I think they are meeting with folks in Asia and Europe to negoiate the buy in up from capital cost only.
Great post on the article....