The new “investment policy” doesn’t seem to be very successful. The company’s NAV at 30-April-2023 was A$58m of which A$21m related to the royalty (A$37m other). Today that same NAV is A$44m of which A$23m relates to the royalty (A$21m other)…
So the “other” which is mostly equity investments fell from A$37m to A$21m over the past year or a -40% return. Why does anyone trust these guys not to continue this trend?
Ann: Full Year Statutory Accounts 31 December 2023, page-5
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