Ann: Market Update, page-11

Current NTA is $2.06/share



However, that assumes no further write-downs / impairments from today.

Which, given its recent history, is a massive assumption.

So I would expect BLA to trade at a nice discount to that $2.06 NTA

They also state BAF's NTA is $1.13/share (ASX:BAF) in today's announcement & that is currently trading at 76c which is a discount of 33% against reported NTA.

If that discount was extrapolated to BLA's NTA of $2.06, it would imply a SP of $1.38

I think that will be a good 'guide' for where the SP may get supported