The interesting bit is the Royal Bank of Canada's reasoning in...

The interesting bit is the Royal Bank of Canada's reasoning in their August E&P update based on 12.5m options exercisable at $0.60 having expired ;-) They had already factored in the 15m performance shares. Interesting also that their NAV carries a 15% discount. Not unreasonable in the circumstances but should the assets actually get developed, I've little doubt there'll be plenty of interested buyers happy to apply a 5% discount in their assumptions.

RBC expect to update their NAV following publication of the Competent Persons Report in Q4.

Not sure if present market carnage will delay intention to list in London and what impact, if any, that might have.

Rgds