mikoh increases ownership of kollakorn

MIK has increased its ownership of Kollakorn to 28.70%. The independent valuation placed on Kollakorn which was presented to the September 2011 Extraordinary General Meeting was in the range of $47.2 million to $59.0 million.

The value of MIK's Kollakorn stake is therefore in the range of $13.5m - $16.9m and you would think that given the advancements in the Thailand project since September 2011 the value would be at the high end or higher. Yet MIK's market cap languishes well below that level at $10m.

Surely things must come into balance at some point. There's just no blue sky factored into the current share price at all.

Cheers
Wills