Updated Book Value Less Mengapher
I estimated book value about 10 days ago in which I estimated that we would receive only $45 million cad for that asset.
Since then, Mengapher has been sold for $30 million US which is about $40 million in cad.
Note that book value is the general reference price for any takeover .
However, it is a floating value.
Combining minimum values for all three projects in $CAD , we have..
Murchison................................................$55 m
Selinsing.................................................$105 m
Cash .............................................. .........$65 m
Total discounted valuation $225 million ( $0.65 per share )
The Above estimates of fair value for any sale or takeover offer shows very clearly that the best and quickest way that we can monetize and liquidate our investment here is to put the company up for sale.
Trading well below cash value , It is now clear that current management is hopelessly incapable of enhancing shareholder value, as they have been for the past 10 years.
14 more days..