I've had another look at TRO versus the parent company TOE.TOE...

I've had another look at TRO versus the parent company TOE.

TOE has a MC of $C48m based on 48,429,000 FPO's and sp of $C0.99.

TRO has a MC of $A165m based on 97,192,000 shares including all unlisted options etc at $A1.70 sp.

TOE owns on a FD basis as above 50.45% of TRO, ie 49,037,000 FPO's including the small balance of the performance shares that will be issued within the next 6 months.

TOE's share of TRO is worth $A83.36m based on $A1.70 sp = $C75.8m at 91c AUD/CAD. That is without allowing a premium on a controlling interest.

If TRO's value to TOE was fairly reflected in TOE's MC, TOE'S sp should be a minimum of $C1.56!!!

And at $C1.56 that means getting all TOE's other projects free, including the uranium prospect!!

Interested in comments. I bought some TOE today at $C0.95 and will likely get more tomorrow Friday Canadian time. The chart looks very nice too.

Also note Pinetree Capital has a significant stake in TOE. Maybe they can add as well as multiply?

DYOR, holder of TRO & TOE