pep11 market prescribed valuation on discovery, page-5

Harry, fantastic work done by you on spread sheets etc....thanks! Please explain something to me (or correct me).

I read with interest your projections when the $1bill. purchase by the Indians was mooted. In those projections you had BPH showing a much higher (projected ) share value than MMR yet, in your spread sheet above you have it showing a considerably lower price......could you please explain this to me/us?


After reading your first spread, I formed the opinion that BPH had much better leverage than MMR......would love to get your views

Thanks good work