Ann: Quarterly Activities / Appendix 5B Cashflow Report, page-81

A couple of key differences.

• Any holding expense (security, insurance, etc) is significantly offset by appreciation of the asset.
• You can convert the asset to cash quickly because it is tangible. (this is more important that the former)

• All the capital raises (share issuance) and the issuing of shares to AC has and will create further share dilution or effectively depreciation.
• Obviously the asset BML has is not convertible until it generates revenue with margin. Then its anyone's guess when they might be, if at all or at what return vs the original investment.