Thanks for your analysis Pedro.I have been a long time holder of...

Thanks for your analysis Pedro.
I have been a long time holder of shares in CSE mainly to have an arbitrage play in SYR. Usually 20%+ discount.
I bought CSE some 5 years ago at 31 cents, saw them grow to 50 cents and plummet.
Difficult to sell CSE as volumes are always low: between 0 and 50,000 per day and usually 0. I always thought SYR would recover. Still hope so.
As you say currently currently 106,844,810 CSE shares own 9,141,369 SYR shares. You need 11,7 CSE shares to own 1 SYR share.
Earlier this month I was able to sell 388,000 CSE at 4.8 cents crystalising a $100k loss and spent most of proceed to buy 40,000 SYR at 40.5 cents.
You could point out that CSE has since been at 6 cents but, I think, my volumes might have changed that. CSE volumes are up but not high,
My hope is SYR grows 5 fold and I recover my losses. Even make a profit.
With CSE, as you point out, it is 4 cents SYR and 2 cents other. I have gone nearly all in SYR. I still hold 200,000 CSE.

Overall CSE/SYR has been a significant disappointment over many years but I am still hopeful!