Interesting calculation by Foolish which I've also thought about.
I agree with dwuuu. At the value attributed by CNNC to LH, LH is worth $760m - $190 = USD $570 million to us shareholders.
Divide by 837.2 million shares then our 75% ownership of LH = USD $0.68 per share.
Add to this value for other assets = ???
However, one thing I am not clear on is CNNC's true ownership here. I understand they own 25% of the EQUITY of LH. This would imply to me that they own 25% of the DEBT and ONGOING OPERATING EXPENSES attributed to this mine too.
Knowledge of this issue would then determine whether $0.68 per share is the GROSS value of the mine, or NET EQUITY value of the mine (after debt). And there is a BIG difference between the two.
I suspect CNNC now do own 25% of the debt and operating expenses and therefore our shares are arguably worth USD $0.68 each + any net equity value from the other operating mine and exploration assets.
PDN Price at posting:
55.5¢ Sentiment: Buy Disclosure: Held
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