To illustrate my previous point, consider SRK:
1.) SRK has cash-backing at $0.32/share... currently trading at $0.25 (you might pick up for $0.20). Yes, below the cash-backing & no debt.
2.) SRK has coal in Indonesia & Iron ore in Peru (high grades). Indonesia coal requires extremely low CAPEX & low OPEX.
Why SRK is so "undervalued"??? IMO because investors are saying they will not get the project done. Lucky, I don't have shares in SRK.
Is CAP undervalued? Yes, if you assume BMG will get funding. No, if you assume BMG will not get funding. DYOR.
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