Impunity - The NAV is 42... so even at 40 it trades BELOW its NAV...
Due to hedge gains (& possible profits Oct-Nov) there must be some more KShs added to the NAV... I would guesstimate another 2/-... So NAV = 44/- or higher...
Greedy when others are fearful,Very fearful when others are greedy - to paraphrase WB
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett