My calc was in response to the previous post that said NML could be valued at 25c. I'm trying to understand that valuation.
There is no wrong or right in back-of-the-napkin calcs....its a rough guess and a discussion point.
I halved it because I'm thinking Four Eagles takes up 50% of CYL's market cap.....so I'm working off a CYL market cap that doesn't include Four Eagles.
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Whitelaw Fault Lynchpin, page-52
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