if you run the metric simply math with-out the emotional sentiment the NAV is $3.50 on $60.00 spot says my chartered accountant .In my opinion you have to include the bi-polar terrible diluted sentiment and its $2.00

i will also discount the liquidity issues of the CND market and the below level of sophistication that is a trademark on the tsx and pop............you have it $1.50 based on $35.00 spot and fearful sheep ignorant sentiment of the CND retail donk ey.