The NTA of regular companies/LIC's is an important measure to...

The NTA of regular companies/LIC's is an important measure to determine share price potential/direction.
Other balance sheet measures also help determine the fundamental health of a company.

Here we have an unconventional company with a diverse base and asset accretion methods. From LIC to venture capitalist to hedge/derivatives trader, listed and unlisted vehicles.
Conventional fundamental measures do not do the company justice and the share price is largely reliant on sentiment - the emotional scary bit - in the periods between major milestones.

The latest definitive audited report has frightened the conservative shareholders and emboldened others to take advantage of their panic.

In time, I expect the SP will rise to be closer to the estimated NTA as it has been over the last 6 months. Certainly, after the IPO the fundamentals will be seen for more accurate share pricing.

Although I see good growth over time from an investor viewpoint - I can see the SP having significant corrections through such NTA issues, dividend/share dispersal's and possible future options issues. This will also attract attention from traders, shorter's and dividend scalpers.
i.e. what you see now will repeat time and again.
So now is the first clean-out of the unsure, conservative, and unimpressed and the start of the serious investors and/or traders that will move forward with the company.

I have been cynical in the past, but since the announcement of the potential dividend last year, have acquired some shares and as the potential become more apparent, regard the company as invest grade that suits my diversification interests.

My only issue at present is the cheerleaders in the forum that are either trying to pull Stuart's strings or he is pulling theirs. The issue of phone calls and emails between them is disturbing. To have detailed pre-announcements of pre-announcements (wrong this time) can only feed negative sentiment.

If I see the tail actually wagging the dog, then I'll go with the rest.




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