Ive noticed that ARG probably most closely tracks its NTA...

Ive noticed that ARG probably most closely tracks its NTA (compared to CHO, MLT and AUI), it's very close to 1.0 and AUI is closing the gap.

I understand by LIC CG is that it can pass CG dividend benefits on..."The other reason is more technical.
There is probably a school of thought out there which believes that the economic value of a LIC is its after-tax NTA. This is not true of the 'traditional' LICs, as they are able to pass on LIC capital gains dividends, but it is true of other LICs."

I'm a bit slow - maybe it's late, does this mean that if ARG accepts the Cemex t/o for RIN and makes eg $100m it's only taxed at half the marginal corporate/company rate (30% / 2 = 15%)? and then the $100-15 = 85 gets passed down to the shareholders as ??franked dividends? (if they have franking credits?).