denensive and undervalued, page-25

Company is currently trading a p/e multiple of 6.5x at the current price of $1.20.

On the face of things, particularly since the balance sheet is strong and the company is generating strong cash flow, that makes CKF very cheap.

However, the credibility of management has been badly damaged and the market can be unforgiving in the current environment. So despite the attractive price, could take a while before it re-rates.

But it is good value at current price in my opinion for a long term hold