There are different ways of looking at it i guess.
Imo, deposit in groud is worth nothing until its proven that its coming out of the groud..
Look at a company like cts
currently has 9.2mill pounds inground, market values it at 50mill mcap.. sentiment is hard to judge
lets say the market gives the new company a value of 60mill
ie 18mill to GDN = 12c share
Imo, its value initially is the percentage of the IPO
2 dollars tomorrow morning, page-15
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