40M book value, just because LOM have spent that thus far in exploration.
How can you call this book value?
Its not an asset...yet if ever.
There is no defined resource. no guarantee LOM will ever see that 40M.
Hence why the market cap is where it is.
Market is correct..you are not - with respect to exploration costs.
40 mil spent on concession market cap 23 mil , page-11
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