RE:RE:RE:RE:3Q Financials -- Trading 50% Below Cash in Bank/InvestmentsMany thanks for the update! I wasn't expecting the financials until mid-March at the earliest. They haven't filed this early for as long as I can remember. It makes me wonder if something is up.
Ryan Gold (RYG.V) also filed that day. Recall that Ryan is also de facto controlled by Dundee and who's CEO is also the same trades at about a 16% discount to its cash and investments versus Corona which trades at a 46% discount to cash and investments. Corona also already owns 5.6% of RYG.
RYG and CRG also have almost exactly the same amount of cash and investments at $21m each so a merger of equals would be perfect. That would mean RYG issuing 5.5 shares for every share of CRG which would be about $0.90 for Corona.
If I were them I would take at least $4m of the cash left over and use it for a buyback.
Anyway I updated my model based on the filing and Friday's prices and I get a NAV of $0.99/share and $0.96/share fully diluted.