I'm simply pointing out that GO's prediction of the cash backing...

I'm simply pointing out that GO's prediction of the cash backing being tested is laudable.
The question of how low will it go comes down to how small the market is willing to squeeze the net asset value, and exactly what can be priced in as the net present cash backing, as there is $3mil coming in at some point, and the $9mil from kora isn't leaving all at once.

In the short term, we may drop a little further but essentially I believe there are very strong fundamentals that will significantly limit this downside should market conditions continue to deteriorate.

As such, I see significant upside potential over the next few months hence my continued buy sentiment.