BNR remains as one of the best shells on the ASX ,even with a MC of $6.5M it still means after the cash is considered then the EV must be only around $400k to $800k or so given that some of their investments are currently priced higher than when they were reported in the last quarterly .BNR could conceivably have around $6M in cash and equivalents at the moment .We should have a better idea of the EV when the new quarterly comes out
Ann: 31 December 2016 Quarterly Report, page-41
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