Rubicon

[biker]

In summary, Rubicon's 31.7% stake in Arborgen is in their books at USD91m yet they picked up the other 68.3% from the partners for only USD29m. This implies a disparity, however Rubicon says because they had pre-emptive purchase rights the transaction was not completed at open market value. Consequently RBC's accountants and auditors will now need to spend several months working on what new valuation should now be given to the business. Significantly Rubicon does not anticipate a material change in its accounting equity to occur.

A positive confirmation that looking ahead past RBC balance date in September and Arbogen in March the RBC share price at around 23c is grossly undervalued.
The realisation of value in RBC has taken an awfully long time but it is now picking up momentum in the right direction. A way to go yet and more patience required but a clearer way forward is now more evident than ever.
The market doesn't want to know about it as yet but it eventually will.
At 23c the reward/risk ratio is a rapidly growing number.
All IMHO of course.