chinese regulatory approval, page-4

This is sure one strange holding.Now that JRL have sold & been paid for their 70% of EME they have $34m in cash,14m shares of EME @ .90 =$12.6m ,9.8m Alchemy @ .74 =$7.2m for a total of $53.8m.Shares on issue 32.8m.NTA of these alone works out at $1.64 p/share yet some sales yesterday under $1-.If my calculation is wrong can someone please correct & anyone with an idea of why the huge discount to NTA ,please share your knowledge.