Another perspective why ctum is cheap
From WMI'data, "The 31 projects that sell landfill gas as fuel to industrial users replace more than two million barrels of oil each year. "
Assuming 10 years of operation, 31 projects shall replace 20 mil barrels of oil, or, each site has 20/31 = 0.645 mil boe oil reserve. The current acquiring price for each barrel of oil under ground is about $14 (we all know it's going to be higher in the future), therefore each site is like an oil well with reserve worth of $14x0.645 (mil) = $9 mil. Now it costs ctum only $3 mil to start a plant on a site, thus, ctum spends 1/3 of market price to acquire energy resources.
In reality, those plants will operate 20, 30 years and the acquiring price for each barrel of oil will go up, so we are talking about getting energy resource at about 1/10 of the mkt price. Plus there there are many sites to go after.
Jagman, I don't think you can dispute my analysis.