NAVUsing their latest financial statements, if AAB still has the exact same holdings, their NAV has dropped from $1.51 to $1.32. Therefore the discount has closed somewhat.
Of course us regulars know the hidden value not calculated in this NAV such as:
Royalties valued at $700 gold on the balance sheet
Performance Shares will be an added kicker at no additional cost
I believe the NAV will be much much higher in the near (1-3 year) future.
Although many of AAB holdings have taken a hit to their share price, the fundamentals of the underlying commodities have been doing well. I assume management is taken advantage of these ridiculous prices and I look forward to their next financials.
Good luck.