Salt Keeps Running

Vulcan still trades at a discount of more than 50 percent to its holdings in Red Moon, essentially giving the rest of the company a negative valuation. The discount has been consistent since I first mentioned it in February, but with RMK quadrupling since then, VUL has also nearly quadrupled.

Salt Runs

I own VUL, which owns 28.8 million shares of RMK. That values VUL at a 30 discount to its RMK holdings alone. The discont widened today with Red Moon rising more than Vulcan. VUL has other properties, plus a 3 percent royalty on the salt project. If the salt project goes into production, the stock is still extremely cheap, but I'm not chasing it on thsi breakout.

Salt Run

Vulcan still trades at a ~20 percent discount to its holdings in Red Moon alone.

Got Salt?

Market isn't buying RMK move yet, if it breaks out, VUL should follow.