The way I look at it they had an NTA of 66c /share at 30th June...

The way I look at it they had an NTA of 66c /share at 30th June before the buyback.
They are buying back 30 million or so at a discount to NTA which will push the NTA up further all things being equal.

We know they bought BDR and have a convertible note in CRE

BDR is substantially up since they bought in and CRE is looking good too so assuming any other investments made have not lost a pile of money (unlikely since June as the market has been trucking along) then I am expecting to see an NTA of around $1/ share and a rerating based on this (to 80c?? ish)

They are still happy to continue to buy back so you gotta think cash is not a problem.

The lack of info I am presuming is because if they released the current NTA the buyback would be at much higher levels. Once they have completed the buyback we should see an NTA (I hope!)

When they are still buying back there's not much chance of losing money as they will likely have to raise the buyback price soon if they want to continue to accumulate so for me the risk / reward is pretty good.

Happy to hear other holders thoughts