I saw the presentation & took a look at Pretivm too. SSO is the largest share holder. This company is at the exploration phase with no production & would require massive amount of investment. They recently raised $80 million dollars. PVG stock is doing better than SSO. PVG give a good gold exposure to SSO investors.
SSO owns 18.9 m million shares based on last closing price $15.50 the investment amounts to $292 million while SSO shows that investment as $140 million. Big difference of $152 million.
Actaul cash $293m
Total cash $364m
Investment $292 m @ $15.50 per share
Cash & Inv total $656m / 80.7 m shares = $8.13 per share
Note payable -$128m
Net $528/ 80.7m shares = $6.54 per share for cash & Investment.
The combined cash & present investment value is $6.54. This does not take in to account the property plant & equipment of $546 million.
Yes a very stong case can been made that this company is under valued at the present price.