my current JRL spreadsheet shows Fair Value for JRL of 92c (or more than double current SP), using EME SP of 60c. A decent bidder just came in at 60c for EME interestingly.
If EME was to goto $1, JRL fair value would jump to $1.51...or almost 3.5 times its current SP. Of course it would never get to FV...last time EME was at $1 (Sep 08), JRL was around 70-80c.
Effectively every 1c increase in EME SP = approx 1.5c increase in JRL fair value per share. Of course, the opposite is also true if EME fell.
Cdchi1
JRL Price at posting:
45.0¢ Sentiment: LT Buy Disclosure: Held
