per share value of sarco, page-14

>Please enlighten me if I'm missing something because so far no one has said why those calc's are wrong.

It's more a case that you haven't convinced us that your calc's are right.

If we assume that ORD will retain 16.75% of the project then that means that

A)ORD receives 16.75% of the revenue from the project

and

B)ORD retains equity valuation of 16.75% of all increases or decreases in SARCO's market cap due to the fact that ORD can cash in on that value at any time in the future.

and

C)ORD retains a large portion of Bauxite to sell in the future which is separate to SARCO because I doubt that the entire resource will go to SARCO.

Try placing some value on each of these and we actually probably come up with a higher valuation than what DFS has placed on LAOS.