yes I agree , I wasnt putting a value on the new JV but yes the theoretical value would be as you say
Assets $43.8 x 7.8% = $3.4M debt $27.4 x 7.8% = $2.1M
net asset $1.3m x 75% = approx $1m
The other thing to consider is the $Aus has tanked since the dec figures came out . The assets and liablities are all in $US so the net asset postion is $aus would need to be adj from when the $aus was about $1.03 us to now 92c us
havent doen the calcul but should lift NTA is AUS close to 50c when you include the 3 assets and associated debt removed from the balance sheet
RNY Price at posting:
29.5¢ Sentiment: Hold Disclosure: Held
