Bram de Haas • Tue, Nov. 25
- Urbana entered into a joint exploration agreement on its Urban Township properties in Quebec.
- The news didn't come entirely as a surprise because of certain language used in the company's 10-K, which I included in the original article.
- The news doesn't change the fact I think Urbana is an interesting investment opportunity, and I don't expect it to have a major impact on the intrinsic value of the company.
Urbana: Why Mr. Market Is Assigning An Unjustifiable Large Discount To NAV Here
- This CEF sells at a discount to Net Asset Value which is only partly justified.
- The portfolio is heavily concentrated in financials, right in the middle of the circle of competence of management who hold a significant number of shares.
- Murray Stahl, a value investor and expert on exchanges and the asset management industry, holds 25% of the shares.
- Fees and related party transactions pose a threat to investment success.
Urbana Corp.: Deeply Discounted Canadian Closed-End Fund
- This closed-end fund sells at a deep 36% discount to net asset value.
- The fund recently started another share buyback program to help narrow the discount.
- The fund recently introduced an annual five cent ($0.05) distribution.
Buy $1 For $0.50 And Own The Bombay Stock Exchange For Free With Urbana Corp.
- Rangeley Capital is a substantial investor in Urbana Corp. Here is why.
- Urbana is priced at a deep discount to its NAV, an NAV which could grow substantially over time.
- We have a good relationship with the portfolio manager who will take steps to close the discount.
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