O.K I did the calc's for those interested
DGR
14.51% of SOLG (mkt cap 363.57 mill pounds sterling)= 52.75 mill pounds for DGR holding
= 89.99 mill AUS attributable to NTA of DGR
26.33% of IRR (Mkt cap 28.87 mill pounds stirling) = 49.25 mill AUS * 0.2633
= 12.96 mill AUS attributable to NTA of DGR
14.38% of DHR (Mkt Cap of 7.79 mill
= 1.12 mill AUS attributable to NTA of DGR
21.77% of ANW (MKT Cap of 13.26 mill
= 2.89 mill AUS attributable to NTA of DGR
23.25% of AJQ (MKT Cap of 25.18mill
=5.85 mill AUS attributable to NTA of DGR
Archer I have attributed a conservative NTA of 5 mill
for a grand total of 117.81 mill NTA vs current mkt cap of 50.92 mill
or DGR currently trades at 43% of it's NTA.
yep more than 50% off sale on DGR shares
And yeah I know what the doubters will say, Archer isn't listed yet, and may require funds to do so. Well that is actually a fair point, but I have discounted it pretty heavily probably. Also I have not attributed a value for DGR's other assests/tenements.
There is more. When I first bought DGR shares (somewhere between 4-5 cents price mark) , the make up of the NTA was quite different. More of the value was obviously attributed to the subs other than SOLG. Now the SOLG portion makes up 76% of DGR's NTA.
I mention this because one of the arguments used against an investment in DGR was that it was basically a collection of penny dreadfuls. Further more those penny dreadfuls would bring down the relative value of the SOLG shares, seeing as DGR is a parent company and the subs are the daughters. Well SOLG was always the prettiest daughter and now she makes up a bigger percentage of DGR's NTA.
If all the subs other than SOLG were written off at this point then basically we trade at a 44% discount to the value of our SOLG holding, or if you buy DGR right now you can essentially pick up SOLG shares for 56% of their value on the London AIM with all the other stuff free. I'm sorry to labor the point but it is quite some oversight by investors of ASX stocks I believe.
Also check out those penny dreadful stocks. Not so dreadful after all it seems to me. AJQ, ANW on the cusp of self sustainability, and we are in all the right commodities, lithium, copper, tin, cobalt, and gas which is back on the rise. We have a whole lot of downside priced in regarding the gas situation in Victoria, some amazing copper gold exploration opportunities which get priced at a premium located on on the east coast of AUS.
To give you an idea of the completely overlooked nature of this stock consider this. A report was released on one of ANW's tin projects Taronga, and in that report it is stated that Taronga on it's own is worth $120 million. Yet market cap of ANW $13.26 mill. Now keep in mind that ANW has a cobalt exploration project (right commodity at the right time) and a tin project in Tas which is about to make the company cash flow neutral, and hopefully fund Taronga......... Now I simply don't have the expertise to validate that $120million dollar number (nor have I checked it's origin-which should be my next job I think) The point is something is either seriously off with the pricing of this stock, and DGR in general.
The pragmatist in me say's well it's mining and the level of self promotion is stomach churning, but someone has to price that thing and they stick their neck on the line when they do it. Lets say it is worth half that amount...still plenty of leverage for these guys to unlock this value.....
DGR have the right goods, the directors have the right amount of shares, the thing is massively undervalued. As a previous poster, smarter and wiser than I stated, "Nick has the keys he just has to unlock the value."
Sorry if you are a regular poster and you know more than me about this stock than me, which is most of you I'll add. I just thought I add things incase any newbies are trawling the threads at 3am.
I seriously wonder sometimes if people know about this stock.
Solgold- go look that shiz up!
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