RE:PGR, Pipestone, Brazeau River, etc. only worth 15c/share !!Has anything ever made sense with TWM? It's possible for TWM to trade at a discount to its holdings of LCFS. I think there's some value here and have been adding again recently. There's still a lot of debt and some reclamation liabilities, but you could see it taken out just for LCFS stake if this continues as the renewable diesel project advances.
I think it's worth paying attention to until 2023 when the renewable diesel project comes online and provides a big jump in EBITDA (and hopefully DCF).
Pipestone alone is likely worth around $300M