UndervalueThe probabilities here are that they are "DIRTY". Tell you why. They own 50% or more of the Public Co but don't want to share with their minority shareholders. The reason I say they don't want to share, no increase in the dividend. No announcment of a buyback.
You and I think the shares might be undervalued at 50%. Perhaps 70%. That they are worth 2 or 3 times the market price. Don't you think this Grippo guy and his friends on the BOD and management if they were intnent on operating on the up and up, that they would pay down some debt, buyback some stock, purchase some shares for their family, add some for themselves, IF they thought it was worth double or triple the current price over a short time frame.
If they were intent on shareing there would be more disclosure in the Financials and the MD&A about what is going on in the Mission JV. Afer all, it is a MATERIAL asset. They put it in a JV so under IFRS they can disclose as little as possible about Mission land. Trying to keep you and me totally in the dark.