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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: MCsweet who wrote (49775)	2/3/2013 1:34:03 PM
From: Spekulatius	Read Replies (1) \| Respond to of 78748

Time to revisit AAB.TO? the stock has bounced back just a little from the 2012 year end rot from 0.3$ to 0.36$. Still, we have a more than 50% discount to NAV of 0.86$. At least, the NAV has stabilized for now. Since AAB.TO has no real operating cash flows, except a small gold royalty, the ~5% dividend is really a return of capital but at a 50% discount to NAV, this is accretive. Of course it would be much more accretive to buy back stock for <50% of NAV but slimming down the company is not in the management interest (they bought back only a token amount of shares). I don't see any other news.