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Pictish

I have a spreadsheet for JRL's assets (incl its EME shares, cash and its other various shares).

At EME SP of $1.02 and all its other assets, the NTA per JRL share is exactly $1.50.

Today I added a 'if TKO approved' section, and then assumed an ongoing EME SP of $1 per share. That worked out to an NTA of $1.60 per JRL share.

As seek stated though JRL has always traded at huge discount. And a very unfair discount...no other company I know of suffers from a discount THIS deep.

Important think to note though is tha this discount is due to risk of the EME shares plunging. If the TKO happens, this is largely derisked since most of their asset will be cold hard cash! So the discount to NTA should reduce.

At least thats my theory...

BuffetJr

PS: If you are interested in another asset play, take a look at Platsearch (PTS) and particularly its investments in EFE and WPG (and shortly another spinoff Thompson Resources hopefully). Nowhere near the same arbitrage value as EME/JRL but then again these once in a lifetime opportunities are just that, once in a lifetime :

<blockquote data-quote="BuffetJr" data-source="post: 486230" data-attributes="member: 18444">PictishI have a spreadsheet for JRL&#039;s assets (incl its EME shares, cash and its other various shares).At EME SP of $1.02 and all its other assets, the NTA per JRL share is exactly $1.50.Today I added a &#039;if TKO approved&#039; section, and then assumed an ongoing EME SP of $1 per share. That worked out to an NTA of $1.60 per JRL share.As seek stated though JRL has always traded at huge discount. And a very unfair discount...no other company I know of suffers from a discount THIS deep.Important think to note though is tha this discount is due to risk of the EME shares plunging. If the TKO happens, this is largely derisked since most of their asset will be cold hard cash! So the discount to NTA should reduce.At least thats my theory...BuffetJrPS: If you are interested in another asset play, take a look at Platsearch (PTS) and particularly its investments in EFE and WPG (and shortly another spinoff Thompson Resources hopefully). Nowhere near the same arbitrage value as EME/JRL but then again these once in a lifetime opportunities are just that, once in a lifetime <img src="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" class="smilie smilie--sprite smilie--sprite7" alt=":p" title="Stick Out Tongue&nbsp; &nbsp; :p" loading="lazy" data-shortname=":p" />:</blockquote>

[QUOTE="BuffetJr, post: 486230, member: 18444"] Pictish I have a spreadsheet for JRL's assets (incl its EME shares, cash and its other various shares). At EME SP of $1.02 and all its other assets, the NTA per JRL share is exactly $1.50. Today I added a 'if TKO approved' section, and then assumed an ongoing EME SP of $1 per share. That worked out to an NTA of $1.60 per JRL share. As seek stated though JRL has always traded at huge discount. And a very unfair discount...no other company I know of suffers from a discount THIS deep. Important think to note though is tha this discount is due to risk of the EME shares plunging. If the TKO happens, this is largely derisked since most of their asset will be cold hard cash! So the discount to NTA should reduce. At least thats my theory... BuffetJr PS: If you are interested in another asset play, take a look at Platsearch (PTS) and particularly its investments in EFE and WPG (and shortly another spinoff Thompson Resources hopefully). Nowhere near the same arbitrage value as EME/JRL but then again these once in a lifetime opportunities are just that, once in a lifetime :p: [/QUOTE]

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