unluckyruss - "how can anyone say this is not under valued."
I think the issue is and always has been that the consideration is not simply about the perceived value of the assets. If it were that simple then I agree the SP would not be where it is. The consideration I think has been around HOW LONG it will take to realise the value of the assets and HOW MANY SHARES will likely be in issue before we get there. So for example if you & I were to jointly agree that the Greenland asset was worth say £5m (arbitrary amount for sake of argument) there is more to consider than just the MCAP increasing by £5m. What people (I believe) are assessing is how many years it will take for the Greenland asset to be sold for £5m and how many more billions of shares might be added between now and then. There is clearly risk involved and picking the right time to invest is obviously crucial for a share that has historically been repeatedly diluted.
The solution for the SP is really very simple. Put in place a business strategy that requires no shareholder dilution and then the value of all the assets, imo, will be immediately added to investors perceptions and the SP will rocket. As it is, when the company pretty much out of the blue drops bombshells like the recent 1.5 billion share placing, giving discounted shares to HNW investors, well, people's confidence understandably isn't going to be very good and the perceived risk factor of leaving your investment open to such dilution will likely be high.
Bottom line is simple. Either demonstrate that there is no longer intention to continually dilute shareholders or deliver results of value that counteract the downward SP pressure of dilution. Draw up a business plan, communicate it, stick to it and deliver it.
Don't be fooled by that comment. If he bought shares and they subsequently went up, holders would not care. The reason for him not buying is not that I assure you!
Kevin Hart (CEO) recently bought shares in Bowleven - trading at below cash with a lot of assets.. if and when those shares go up, and they certainly should - no one is going to complain about him buying.
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