The relative value ratio, I have always found a bit mystifying.
TAS has $100m worth of EDE shares and options
Also 45m CNJ shares worth about $2.5m, and CNJ is cheap IMO
Approx $5m in the bank
Other mining assets also
Lets say $120m
MC $45m !!
Just to make it easy, if EDE went to $1, (X6) TAS would have about $600m in EDE shares and options,
"If the ratio sticks as is" a SP of 70cents and a MC of $250m
Thoughts
TAS/EDE relative values, page-851
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