currently 10c. nta 64c to 82c.

Interesting ann today. Been crunching some numbers tonight...

Their December Asset base (NTA) was about $408M (Assets - Debt). Equal to about $1.01 a share.

Today, it appears to be about $408 - $98M (as per June 08 writedowns) = $310M. Equal to about 77c a share NTA.

Distributions were not payed out over the last 6 months, and rental income should add another 5c a share to NTA = 82c a share.

Their Property Portfolio was only $1,230M before the sale, and they have reduced it by $509M. This leaves only $721M in Property.

Even if the remainding property was sold for a 10% discount (even though today's sold at above June08 valuation), this would only write off a further 18c NTA.

So surely NTA is somewhere bewetween 64c-82c.

Seems to be a bargin at 10c.