SOLG-NEW DISCOVERY-S.Ecuador, page-16

Yes but to be totally honest you dont need to tax the whole lot.... we may end up getting a bit of a whack for tax but probably at the very least you get franking credits, but probably with Mather being the card sharp genius that he is he will structure deals in a way where we dont necessarily pay the full whack of tax.

That 34.09 total NTA figure is based on the SOLG and IRR share prices at the 30th June 2017... (in fact all the figures for the subs are 30th June) Ive just adjusted the SOLG and IRR figures to todays prices which are currently lower than they were at 30th June.. (I havent adjusted the other subs because Im getting lazy, and I know they havent changed much from 30th June and also they are now a pretty negligible % of DGR total NTA anyway)......

And the figure I come up with is that we trade at 39% of NTA.... or to state the figure you would get if we traded at 100% of NTA, well the share price would be 29.5 cents per share. (Not 34.05 cents).

Casius can you please confirm my downramp please?