I get the maths, but I think it's missing some aspects that are impossible to factor in, ie ADN being the 'face' of the product and announcements, James Marsh leadership etc. It also doesn't factor in ADN gold projects or it's 100% owned tenements.
The maths becomes a factor when it comes to paying dividends, and while i agree with you that MEP is undervalued, it doesn't necessarily mean the market will see it as that simple a calculation.
its like the old taco and tortilla commercial, why not have both.
Ann: Mineral Resource for Hammerhead Halloysite-Kaolin Deposit, page-128
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