I never got an email returned re: the 450k equity investment in the 4c from GBA . I figured they had taken some more . Paid for by some handy CR work for the cousins . Holdings also in MMR/O to the tune of $13m and $1m in BPH shares( plus the new CR ? ).
GBA can now say they have $15m value in Advent which is the bottom of the book and that is their market cap by no coincidence .
Theoretical value on the above is double the current share price . That does not include the book values being paid elsewhere or the loan to Advent or the " eventually " investments . The market does not recognise the shares in the ASX imo .
BPH is being held up at 14c by possible a options issue . If you take tax gains out of the MMR price ( per your calcs ) we get similar values to GBA . IE. circa $1.25c . So BHP at $1.60 is interpreted by me to mean the option carrot is certainly working . To the tune of about 1.5c per option . Following that we can see that perhaps without the gains the whole bunch are actually around the same and at the bottom of the book allowing for more upside , even up to forty percent ( top of book + approval ) . Also making the options a probable starter well into the money . Hence the premium now .
MMR will be circa $1.40 if we get top book money . IMO they may get more and surprise the market . GBA will be 80c and still there will be have to be consideration for it's ever increasing value in MMR/O and BPH . Which , with so little shares will equate to todays price ! I hope people can make sense of my logic .
