RE: RE: RE: RE: RE: RE: RE: What's really going on Assets as of 12/31 were $623M, where did you get $700M?
Even knocking out the derivative liabilities, I still get $369M in liabilities, so tangible equity would be $250m-ish today, not $380M. And then if we convert, we'd have $400M-ish.
But of course, if you can't just ignore the derivative liability, since it represents a significant amount of gold the company has to pay out if you continue to own and operate the mines, so that $400M in "NAV" isn't actually worth quite that much.