a bit of fun, page-24

TobyJack, by your CSE comment I presume you believe you can obtain greater leverage through CSE as you consider that it is trading at below the sum-of-parts valuation of its assets being:

- SYR shares
- SPQ shares
- $2.2m in cash as at 31 March 2013

Unfortunately once again you are unable to realise that the market is FORWARD looking. CSE is a exploration company (although a shell at the moment) hence the market anticipates that EVENTUALLY, these share holdings will be liquidated and a 30% tax will be payable.

Go through the workings and you'll find that the theoretical share price of CSE based on the current share price of SYR, SPQ and less a 30% future tax liability is ~17.6c, which is very close to the current share price of 17.5c.

So unfortunately, you will have find another cat to skin (I don't condone cruelty towards animals by the way).

Please do not feel obliged to give me the bottle if you win as I'm doing fine at the moment.

Cheers