If this is the case, he may not care too much about market pricing of the units, as management fees are based on underlieing asset value, not market prices. (longtermvalue.wordpress.com)
Meanwhile, these suspects all appear to possess substantial underlying asset value — based on their reported reserves & resources — but continue to struggle with their cash burn rates & daunting fund - raising ambitions. (wexboy.wordpress.com)
Even companies with genuine underlying asset value, like: i) REACT Energy (REAC: LN)-- approved / operational projects, or ii) Providence Resources (PVR: LN) & Kenmare Resources (KMR: LN)-- actual reserves / resources, can end up getting hammered when they're burdened with continuing negative cash flows & pretty insurmountable funding challenges. (wexboy.wordpress.com)