Slick: I don't think a dollar is that big a call. Not that I think we'll see quite that much any time soon, but it wouldn't completely amaze me. I'm not claiming to be a brilliant analyst, but to me EKA looks hugely undervalued. When EKA was under 20c just a few months ago I was thinking it was worth closer to a dollar (and I topped up some more).
I bought MAD last year for an average of around 21c, and it's now close to a dollar. That surprised me more than EKA going from here to a dollar would. I also remember buying AUT for around 50c, I sold the last of them recently for $3.43 (just a few weeks too early, oops!).
If we go well in the Brioche I don't see a dollar being too unlikely. I'd have bought more over the last few months but I've already bought a crapload (by my standards). EKA is my largest holding.
If the Brioche is half decent we're laughing. EKA has about 40% as much land as AUT, some of it is the exact same land, most of the rest is Brioche. Our market cap is only around 6% of AUT's! Sure, AUT is larger, index, dual listing, etc. but the discrepancy to me seems nuts.
If you account for the difference in cash on hand and assume that on average the land is equivalent and all else is equal EKA is worth around $2.50 per share relative to AUT. Obviously there are several reasons that isn't realistic, but if the Brioche is at least fairly reasonable it isn't at all difficult to see EKA getting somewhere around half that in the medium term.
Even completely ignoring the Bioche and Pan de Azucar (over three quarters of EKA's land), and taking into account the difference in cash position, we're undervalued relative to AUT. The other 78% of EKA's land has the potential to do amazing things in my opinion.
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