$2.9m in the bank plus $12.1m worth of SYR shares for a cash/liquids backing of $15m or just over 14cents per share. Still looking very 'cheap' and great exposure to SYR's rocketing shareprice.
Reading the quarterly, my take on management's comments re: not being able to complete an acquisition as CSE's rising share price has left the parties unable to agree on share issue price is more along the lines of 'we have a number of great deals we're assessing but we reckon our SYR holding is going to be worth a lot more in the short/medium-term so we'll just let the market do it's thing before we commit to an acquisition and lower the dilution for existing holders'
happy days..
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