ECO v CGX VALUATIONSECO MARKET CAP: $84M CAD; or, US $60.5M
Assume conservative US $10M for ECO's non-Guyana assets = leaves US $50.5M for ECO's Guyana assets.
US $50.5M / Eco's 15% interest in Orinduik = US $3.36M per 1% interest
US $3.36M * CGX's 66.7% interest in Demarara (adjacent to Orinduik and larger license) = US $224,556,622. Or, US $0.75/CGX sh; or, CAD $1.04/CGX sh. Note, this simple comparison excludes corentyne, berbice, or the deepwater port.
It's difficult to approximate value when their is no independent resource report to rely upon for Demarara - typically used by third party analysts to properly assess valaution of exploration companies. Surely, we will see news on that in the near future...
Regardless, assuming the prospectivity of Orinduik is comparable to Demarara (and discounting other CGX assets / licenses) - we are presently valued at a discounted multiple of more than 4x.
I am sure this will be all sorted in time...