market disconnect paradox, page-13

PE

I hear you.

The one thing I do know is cooper is trading at a market cap of 90 million with about 75-80 million in cash equivalents.

They also have about 1.35 million barrels in reserve of the light sweet stuff that is very cheap to produce. They dont need to spend millins to extract thier reserves.The cash and profitability helps them to pay their way for exploration and have cracks at good companies like IPM this has never been about IPMs quality - I agree with that, it is about the harsh view on COE which I beleive on this thread which is unfair.(as objective as Ican be with my big COE holding)Anyway IPM shareholders should be very thankful of the bid as it surely would have been in the 80s now. even with the offer it istracking down