CAI Valuation - comparison to peers, page-113

@SoWoEverLike It is irrelevant. It has nothing to do with how Alkane is going as a gold mining business. To do that, you need to remove the effect of listed investments from not only the P&L, but also the cashflow statement. It is only relevant as the value of the listed investments in the balance sheet. Otherwise it distorts the performance of the business.