you may wish to learn what NAV is ...your a waste of space mate 
Schand ...youv`e shown yourself to be a bit clueless there mate ...if you think NAV has nothing to do with investing ,its rather sad that you say you want to engage on bmr ..but cant understand the basics ...as for my research it has yet to be proved wrong
The discount IMHO that BMR trades at to NAV is massive
With Zema approval the NAV will be far higher than 20m ...so it's a waiting game that is all
So there's no way you can say bmr is worth this or that then is there ....MC is irelavent
Some of the RNS,s have been misleading .....now may I ask a Q