SPR value definition., page-34

I agree Toomz, I’m guessing the end story will change a lot moving forward.

BUT

to stick with this point I see the implied 2.4B MC as deceptive in RMS’s favour.

If time was frozen; to benefit from this mathematical ….. you could sell your SPR shares at 1.78c now and buy RMS @$2.2 and be part of the upside relative to the ADVERTISED implied value. (Practically it’s only circa 200m - but it’s the point for me!)

the risk in real time is that a big fish knows this…… and outbids RMS (then you miss that upside (despite RMS @$2.2 being superb value as Deserthead etc demonstrate)