RE:RE:RE:RE:Sum-of-the-parts Valuation - revisitedOn several occasions Maguire has commented that PNG has the potential to exceed past peaks. I agree it's speculation but attributing a value to PNG drilling ops of $50MM is somewhat its nadir given its past revenue generation and current PNG prospects. My guess is that its worth is probably somewhere in between your estimate and mine.
Insofar as Colorado assets, yes, it's a broad guestimate. Even valuing the Colorado assets at zero removes a pittance to the valuation estimate (i.e. $0.06).
Forget about Mr. Market as he hasn't got a clue of what he's doing. It's not an efficient market; if it were, few would make any money on capital increase - only dividend income. We strive to find these out-of-whack valuations so that we can capitize on them.
I certainly agree with the risks however. I will be voting my shares NO to privatization.
Cheers,
JJ