net tangible asset backing, page-19

The WME placement announcement is very encouraging indeed. It shows that a major uranium investor in Polo Resources is now all over WME. Polo also have a stake in EXT. There seems to a broader play here.

So, BTV's stake in WME hit a value of $7.35m yesterday, settling at $7.05m at the end of the day. When WME hits say 30c, which seems inevitable, BTV's interest s worth $9m.

Even at the current level, BTV then has $7m in WME equity, $10m in deferred settlement assets re ATW and $12.5m in cash. Total tangible assets of close to $30m, not counting any tenement resources. No debt. So asset backing of 26c/share.

I think stale investors are selling without having a clue as to the asset value?