Ann: Presentation - Energy Fuels and Base Resources Combination, page-243

If anyone wondering why I didn't add 6.5c dividend in the calculation is because you are earning that as a compromise to let go future growth of BSE so one shouldn't be buying Dividend because if you pay anything above the UUUU value then you are literally buying upcoming dividend and then paying tax on it so it is basically costing you even more (assuming you have taxable income threshold and if you don't still why pay to buy dividend?

Only, dumb person will confuse you by saying the value is 28c (21.5c+6.5c) including 6.5c because if you pay anything above 21.5c then you are literally buying the cash that you will get in return and not only that you will end-up paying tax on that as well ! anyone buying now 26.5c is basically paying for the dividend they will get back if scheme goes through obviously (assuming current rates & fx assumed in our example).

obviously, if anyone long on UUUU then it is different matter but even in that case better buying directly UUUU on US exchange instead of saving all this conversion documentation for future tax purpose.

obviously if UUUU goes back to $7USD then it is different calculations so close eye on Fx rates & movement on UUUU price is important to correctly value what is the right price at a given time.