latest ann is still too cryptic - supposedly 9 mil cash flow positive, yet the NTA is still falling.
They are supposed to be in ARBITRAGE, how come they have now taken out hedging contracts ? this tells us they have been carrying naked positions. l dont think the trust deed is supposed to allow that ?
They claim option volatility still falling, but after 6 months that wears thin also, it cant fall continuously like that forever.
They seem desperate to give the impression they in control when clearly they are not. However by July the picture should be clearer and maybe some confidence will return, but NTA is the highest they can look for. Maybe we might eventually find out what happened to the rest in the ann report ?
GLI
goldlink incomeplus limited
last chance at these prices, page-9
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