NAV - .203 per share - double the market priceY/e financials and MD&A filed today.
Little change in investments but note subsequent event.
Eros agreed to $3,500,000 exploration expenditures to earn 17.5% of certain MAS properties which will offset as below: $1,090,000 funded so far.
A deferred income tax liability of approximately $3.10 million is a result of deferring income tax on the proceeds of the settlement with the Province of British Columbia relating to the government’s implementation of the ban on uranium mining in the province and unrealized gains on marketable securities. This liability can be eliminated by spending approximately $9 million on Canadian acquisitions and qualifying exploration expenditures within the next 2.5 years.