chn undervalued - holding in ff.v flying!

CHN receiving 32.2 mill shares in ff.v which is a mineral (mostly gold) banking company with a wide range of resources listed on the Toronto exchange. ff.v up another 17% last night. CHN net asset value of shares worth about $39.5 mill Australia. It also has $37 mill cash. That adds up to 76.5 mill AUD which is about 27 cent s a share. Trading around 19 cents so definately good value on fundamentals adn it has yet to run in response to ff.v running.

It is buying into exploration properties from cash starved juniors at very low cost and if it ever decides to splash its' cash on anything significant the punters are likely to jump on board and it could run hard in the current gold environment.

For my money significant upside and not much downside and that's a combination that has served me well many times. I hold a heap. DYOR

Cheers
hots