ripe for the taking, page-11

To gain 50% of the upside of the main project, they will have to fork out about a billion bucks to CMR's free-carry.

They dont share in CMR's Uranium or non-Rum Jungle assets

They are also 40% owned by PRC and might be escrow so u have to adjust.

HNC's main markets are in PRC so u also have to adjust.

U shld compare CMR to its western peers and try assigning some typical PERs.

U have to compare granny smith apples with garnny smith apples haha.

If u valued CMR on just the billion bucks HNC has to fork out for half, that comparison alone is about 8 bucks a share for a debtless CMR nothing else included. U can see where Huntleys are coming from.

IMBOOC