FEC Resources Inc. (FECOF)

[irishintelligence]

FECOF VALUATION IDEA:

--Page 41 of the 2017 PXP audited financial statements shows that 87% of the PXP net assets (not including FECOF) are attributable to Forum Energy Limited (FEL).

--87% * (PXP Share Price (16.72 on 4.11.18)* 1,700,000,000 PXP shares outstanding) = the Philippine Peso public market valuation of 72.18% of FEL.

--FECOF owns 6.8% of FEL.


16.72*1,700,000,000=28,424,000,000 PESO or $540,056,000 (yes that's over 500 million)

$540,056,000*87% = $469,848,720 valuation of 72.18% of FEL.

$469,848,720/72.18%=$650,940,315 valuation of 100% of FEL.

$650,940,315*6.8% = $44,263,941 valuation of 6.8% of FEL

FECOF has ~409,000,000 shares

$44,263,941/409,000,000 = $0.11/share today with no agreement between China and Phil.


We are going higher.