Cequence Energy Ltd Common CEQXF

This transaction is incredible

[Cardboard1]

https://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aPONY-2820885&symbol=PONY&region=C
 
They are selling 4% of their land for $45 million and it is only for a 75% interest of that 4% and it is undeveloped. If they were to sell the rest of company’s land at same metric they would get a further $1.08 billion.
 
So you sell 75% of your land and obtain $1.125 billion, then attribute $0 value for any plant and infrastructure and $0 value for any production and cash flow. Market cap for the company is $94 million and net debt $831 million or a total EV of $925 million!
 
Or they got lucky with that sale, or that land has incredibly high prospects or valuation for these companies is absolutely stupid!