#KDNC - @edisonresearch note:
The market is clearly mis-pricing Cadence.
Public equities account for £10.2m of its £12.7m market cap, leaving just £2.5m for its 30% stake in the Amapá #ironore project
Base-case valuation 32.2p, high-case valuation 57p
https://t.co/aPzWzWXmf4