Post by
RockLobster1 on Oct 19, 2014 10:44pm
NAV and cash
HI Method....
Not to make you do all the work but... interested to know the NAV, but also the amount of NAV in cash. Used to be $16m out of $26m when I started to buy years ago... assume much lower now on both accounts. Back then I was buying at under cash and getting the portfolio for free, but obviously has not worked out as the price was 66 cents or so.
But since the golds and juniors are still in a downtrend with no sign of a bottom, it is the cash that will cushion us.... unless they spend it all.
Also, if you know the burn rate that is important too.
Might a good place to park cash, but can't rely on mgmt to actually do anything sadly. As someone said, what is the incentive to merge and cut costs in half? There should be one but doesnt seem to be. SHoudl mgmt fees not be based on assets and therefore they would not be reduced? Just admin costs...
thanks
Comment by
Method on Oct 22, 2014 9:14pm
Cash is about $0.39/share ($8.27m) versus the NAV of 82 cents. The burn rate is $600k/year. Management is not earning a management fee except for director's fees and the CFO's salary which are less than $200k per year. Its one of the reasons I thought management would be more inclined to do the right thing here as they and Dundee own 45% of the equity.
Comment by
RockLobster1 on Dec 10, 2014 9:28am
this is definitely not how it is happening on others... look at the insider buying at GMN .v They are buy way more than 25% of ADV it looks like when they want to... Too bad about CRG, but if a mess. So cheap but will anything happen?