Something doesn't smell right!I have spent a good part of the weekend scouring all potential Uranium Companies with the desire to take positions in any that have merit.
Researching Mega Uranium has me completely baffled!
The Market Cap of Mega is approx $118 Million.
Mega owns shares in shares in 4 other Uranium stocks, one being a 19.4 Million shares of NexGen. The value of NexGen shares is 19.4 M * $7.40 = $143.56 Million.
The other three Companiy shares added to NexGen shows a value of $166 Million.
How can the value of shares be worth almost $50 Million more than the value of the Company, lock, stock and barrel?
Also, the value of these holdings are defined as Marketable Securities on the last Financials with a value posted of $14.4 Million. My math suggests this is shy by $152 Million?
Any thoughts as to the value of outside stock holdings and the value of this Company? The current holdings solely by Mega looks like they have been put on care and maintenace for a few decades. Something doesn't smell right???