You based your elephant and ant analogy on the equity in each companies balance sheets at teh time.
Since then, the auditors have had SDL move much of the mine development costs from the balance sheet to the P&L
The result of this (based on your original methodology) is that with a $5 mil equity position, ANS are now the elephant and SDL with a negative equity position of $70 million is now very much the ant.
So when you talk ants and elephants, you may need to clarify who is the ant and who is the elephant.
SDL Price at posting:
0.6¢ Sentiment: None Disclosure: Not Held
