@BigB87, As at the latest CDM announcement on 20 Sep 21, CDM had...

@BigB87, As at the latest CDM announcement on 20 Sep 21, CDM had an after tax NTA of $1.43. TMC is 18% of the portfolio at that date which equals approx 25 cps. If you take TMC out of the equation absolutely……(ie you are taking away ALL the TMC holdings including the original cost of the holding in Green Metals), you arrive at an NTA of approx $1.18. Therefore the current SP equals approx NTA assuming a complete loss of all opportunity profits in TMC, AND assuming the complete loss of the original cost of Deep Green Metals. I would therefore “block out” the noise and make your investment decision based on the CDMs “real portfolio” and exclude what may or may not happen with TMC. I should add, that I’m not particularly happy with all the ructions going on with TMC and Karl’s rather overly complicated plans, but if you take away the TMC holding absolutely including the original cost to CDM, CDM is merely trading roughly in line with NTA. Just another perspective and to clarify that it can’t really “blow up” if you take everything to do with TMC out, and the remaining SP still roughly equals NTA.