The market is probably now more comfortable with the sovereign risk in Georgia.
On a conservative back of the envelope calculation, with BSG making $4m per annum from Georgia, with a P/e of 7 this would imply a market cap of $28m or $0.18 per share.
This as stated is conservative and ignores Ocampo and Roseby, but even in a non-conservative analysis I would ignore Roseby until a bankable feasibilty study is produced.
A P/e of 7 is used as the revenue from Georgia is finite, and would include some sovereign risk
Dbmroadster
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