Why ORX is an easy buy right nowBased on most recent audited financials (as of Oct 31st 2020), ORX has $7.7M in current assets, mostly cash, and $1.8M current liabilities. That means they have excess short term assets of $5.9M.
As per their last corporate presentation they own:
- 19% MIS (current MC near $17.8M) = $3.4M attributable to ORX
- 4.8% QCCU (current MC near $23.8M) = $1.1M Attributable to ORX
- 26% American Eagle gold (~10M shares)
Assuming ORX retains half of it's shares and they are valued at IPO price of $0.20, this means ORX will retain $1M attributable to ORX.
All this suggests ORX, valuing it's properties, prospectiveness and business at $0, has a value of $10.4M today. With 222.51M shares outstanding, this implies a value of $0.047/share as a hard downward limit.
If you do think ORX's business is valuable, buying in the $0.075-0.1/share range is a no brainer. We've never had so much cash and the equity positions have never been this valuable.