RE:RE:Team snubbing is on a tear too, we got dividend + RoCValuation is certainly an art.
For what it is worth, my high level math regarding the share price is as follows:
| | Low | Medium | High | | Notes |
| Cash | 50,000,000 | 50,000,000 | 50,000,000 | | |
| Team Snubbing Value | 12,000,000 | 12,000,000 | 12,000,000 | | 50% Increase since the transaction |
| Delta Rentals | 6,400,000 | 6,400,000 | 6,400,000 | | Valued at Purchase Price. Too soon to tell. |
| HAES Rentals (Net) | 7,000,000 | 7,000,000 | 7,000,000 | | |
| Property Value (Net) | 3,500,000 | 3,500,000 | 3,500,000 | | Essentially valued at Net Book Value |
| PNG | 25,000,000 | 50,000,000 | 75,000,000 | | Assume some level of return to profitabilty in 2026 and beyond. |
| | 103,900,000 | 128,900,000 | 153,900,000 | | |
| | | | | | |
| Less: Margin of Safety | 8,085,000 | 15,780,000 | 25,975,000 | | |
| | 95,815,000 | 113,120,000 | 127,925,000 | | |
| Shares O/S | 49,122,302 | | | | |
| | | | | | |
| Common Equity FMV | 1.95 | 2.30 | 2.60 | | |
| Share Price | 1.24 | 1.24 | 1.24 | | |
| Implied Upside | 0.71 | 1.06 | 1.36 | | |
| Implied Upside % | 57% | 86% | 110% | | |
I am more than happy to hear from the group where others have their numbers coming in at.
LR