RE:RE:Politics Well the numbers are out, we got screwed to the tune of $15 million of profit on JV'S.
Over $12 million in Silverdale.
About a quarter of their income from these terrible arrangements they got us into.
This will be heading to at least half their income when Silverdale gets going.
Book now is just under $8 per share. PE is under 6.
As leases roll over at Vancouver market rates, income continues to climb.
The truth is, Polygon is a class act. They are huge, and they don't have time to play with numbers. The Jv is invaluable to us.
The Jv bought in Sept, another 11 acres at well over a million an acre.
This price point implies the JV lands are worth well more than the share price.