About time the directors did their job and educated the market as to what a more appropriate value would be. Allowing TBR shares to be sold off at the current price would have to bring into question whether the board is acting in the best interest of the companies. At $1,830 gold I estimate the asset backing to be $4.60 a share and this excludes the value of the TBR shares to be sold by Morgan Stanley, values the EKJV at the NST offer and the Philippines embarrassment at ZERO.
Ann: Quarterly Activities Report, page-11
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