RE: $2.03 NAV Nov. 7 08NAV has got to be lower. Almost all their plays are getting crushed - again. And junk like Inca (once one of their biggest holdings) will likely be written off for a big loss. Two of their three biggest holdings got crushed in the last couple of days - ML is now sub $1 and TCM is $3.65, less than half where they were on Nov 7. QUA is almost down as much, but not at its 52wk low again, which is a victory of sorts.
In any event, NAV is almost immaterial now. MLY is trading below cash value - the rest of their "assets" are deemed worthless even though one of their biggest assets (QUA) is also trading below cash value and others (like TCM) are backed by lots of cash.
Sprott should wind this thing down - sell the rest of the equities for whatever they can get and return the cash. No need for these jokers to suck shareholders dry any more by getting "Performance" Fees any longer.