Quote from: Peter Lambert on September 29, 2013, 01:07:29 PM

Quote from: jmutch on September 29, 2013, 05:19:02 AM

After the btct.co announcement, Sandstorms NAV took a significant hit. It would be very difficult to recover the fund to anything close to IPO value whilst maintaining 1% dividends. The fund was turning into a value destroying operation. It is fair to say at this stage that the fund was a failure.

This statement makes no sense to me. How did the NAV take such a big hit? Everything was suddenly priced for a discount, you should have taken the opportunity to buy the shares cheap, you could have made a huge profit off all the panic. Or maybe you did make a huge profit off the panic and you don't want to tell your shareholders, you are just taking all that profit for yourself?

+1. It was incredibly easy to capitalize on btct.co's winding down announcement, your NAV should have increased...