Imunro those calcs you did look more on the mark rather than the first post, even though the end NTA you both mentioned were not that different.
I was thinking they have probably sold a property that is easier first to get more breathing room as far as leverage in the company goes. So from that point of view maybe they will have to take bigger hits later on. Countering that might be that as the debt levels are reduced they can act as more patient sellers. On balance though a reasonable target can perhaps be for the shares to slowly gravitate to 20 cents with an NTA as you mentioned of 28 cents. Will need plenty more sales in the next year or two though.
RNY Price at posting:
14.0¢ Sentiment: Hold Disclosure: Held
