my revised nta calc arrives at 1.711, page-10

Defabstar,
I appreciate the work involved in preparing the figures and the facts you have presented.

I tend to take a simpler approach. I ignore the change in property values as they are only important if they are sold or for sale. I look at the income and the expenditure. If the income can consistantly exceed the expenditure then there must be a profit. If the business is profitable then it should survive. The share price should relate to the profitability more than relate to the asset.

Now that the short term funding problem for CER has eased and the company appears to be able to trade profitability and it appears that it will continue that way I can see no reason why CER is not a good investment.

Property values aside, can you see any reason why CER will not trade profitably?