working thru the figures for canada

MPO paid $3.2M for 1.85M acres. They then got given a further 0.274M acres for a nil cost. Previously they announced that they intended to spend $1.2M over the next year. I suspect that last figure may change but I am not fussed.

Now looking at the last qtrly report:
They have identified 0.783M acres close to where deals in the last 3 months have been signed @ $500-1000 per acre and 0.15M acres are core.

150k @ $500 = $75M
783k @ $500 = $391.5M

Mention is made that one third of the payments were cash up front. Even if the remaining asset value turns out to be worthless that would still be $25M and $130M for something that to date has cost less than $5M

And if it were $1000 per acre, for 783k acres the result would be more than 6 times the current total market value of MPO.

Plus the Cash
Plus South Africa
Plus China
Plus Queensland

Why wouldn't I continue to hold?!