RE:RE:LPIYes, only saw it when I got home on Friday, it seemed someone is trying to manipulate our SP.
Last Night, LPI reached MC Aus$237.1m = Can$213.2M, BRZ has 1/3 portion of LPI has in MSB, so we should be worth about Can$71.1M (ignore LPI's early stage hard rock assets), We are now Can$25.5M, and need 278% UP.
If I assume LPI's eary-stage hard rock assets for AUS$30M, their Cash AUS$15M, total AUS$45M, then adjusted LPI MC is AUS$192.1M = Can$173.1M, our 1/3 of LPI's MC = Can$57.7M. This morning, BRZ's MC = Can$25.5, so we are at least 100% undervalued.
LPI is de-merging their hard rock assets from its brine in Chile, so their valuation is simpler, so the 3 JV partners will be easier to merge into a single company. After that, the merged company will be easily bought out by someone else.
My only concern is how will the 3 JV be valued when they are merged into ONE, especially BRZ who is the smallest player.
tiger