Just 2 orders of magnitude out.
Whilst in this waiting room I've delved back into the LCT/OPF JV. In 2012 a successful outcome was deemed worth $40M being $20M of IP from LCT and $20M cash from OPF. Clearly it's all with LCT now after OPF declined to exercise their option (asx notice 15/5/2014). $40M is 8cps (I checked the math). Finding a fair valuation for companies like LCT is a black art but today's price seems a bit skinny given the 8cps was the value before those little oinker brain cells looked like winners.
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