hawsons is the superior project, page-31

To illustrate my previous point, consider SRK:

1.) SRK has cash-backing at $0.32/share... currently trading at $0.25 (you might pick up for $0.20). Yes, below the cash-backing & no debt.

2.) SRK has coal in Indonesia & Iron ore in Peru (high grades). Indonesia coal requires extremely low CAPEX & low OPEX.

Why SRK is so "undervalued"??? IMO because investors are saying they will not get the project done. Lucky, I don't have shares in SRK.

Is CAP undervalued? Yes, if you assume BMG will get funding. No, if you assume BMG will not get funding. DYOR.