RE:Blue Goose - Conservative NAV estimateHere are a few comments compared to my calculations:
- I have a higher marketable securities value adjusted to today's prices @ $138M... I include Dundee Sustainable in that bucket.
- Corporate and GCIC cash balance is $85M at June 30th.
- I'm using ~$70M carrying value as the Taurx fair value. Based on the recent Taurx financings I think their carrying value could be low so I'm not applying a discount. That said, this asset could be worth multiples of the carrying value or less than carrying value based on the results of the current trial. Seems to be a lot of interest in dimentia/alzheimer's drugs at the moment so maybe Taurx gets taken out by a larger company.
- I'd suggest that there is also possibly some value in GCIC, Dundee 360 and the tax losses that neither of us is taking into account.
It seems clear that the best way to increase NAV/share is to buy back as many subordinated shares as possible under ~$2.00 per share.