Is anyone else aware of the fact that the shares GBP own in Falklands Oil and Gas are woth 30 cents alone! I was doing the sums last night and GBP's 14% holding in FOGL is worth AUD $51.126 million. Currently GBP's market cap is only AUD $34 million. So if you take the $51 million and divide it by the shares on issue in GBP (174,444,787) that makes their holding worth $0.293 to the company, and yet the share price currently sits at $0.195.
So if i'm wrong please correct me but doesnt that mean even if the GBP share price were up at $0.29 that would still be placing zero value on all their other assets? That makes it a BUY in my books!
Anyone with any thoughts?
gbp trading at a 30 percent discount
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