Analysis of MXC when compared to CPH, page-59

Have you looked into the first link that I sent you about "book value"?

https://www.investopedia.com/articles/investing/110613/market-value-versus-book-value.asp

"Book value literally means the value of the business according to its "books" or financial statements. In this case, book value is calculated from the balance sheet, and it’s the difference between a company's total assets and total liabilities. On the company's balance sheet, book value is recorded as shareholders' equity."

This definition is under the concept from a general investor point of view. While I acknowledge in the eye of accountant it's less intangible assets, but that's not my intention here. ( as most people here are not accountant)

AIMO DYOR