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FundSERV Code MFG009
Pathway Québec Mining 2008-II Flow-Through Limited Partnership
Net Asset Value as at May 04, 2009 (prospectus offering was available through IDA investment advisors to all Canadian residents in Québec and Ontario, administered by MineralFields Group)--final NAV as at dissolution/rollover. For a copy of our dissolution letter, please Click Here
Pour une copie de notre lettre de dissolution, s'il vous plait Cliquez Ici
Note: this fund was dissolved, and investors received liquidity, 1 year and 5 months (i.e., 17 months) ahead of schedule. To our knowledge, no other flow-through organization has ever treated its investors this well!
100% of the net funds raised have been invested
| Amount raised in offering: |
$10,651,000 |
Amount invested in resource issuers
(after deducting 10 % costs of issue): |
$9,346,253 |
Note: a very conservative valuation approach is followed, where warrants are assigned no time value, just intrinsic value; stocks are valued at closing price, or last traded price.
N.A.V. Per $10 unit = $12.25
Note: Starting N.A.V. per $100 unit is normally $80.00 after subtracting costs of issue and premiums, so an N.A.V. above $80.00 per unit represents appreciation in the portfolio.
Value of a $10,000 Investment on May 04, 2009: $12,250
As a result of the substantial tax deduction and tax credit benefits realized by each investor (which lowers the purchase cost on an after-tax basis to $3,555)-- the after-tax return is 244.59% before capital gains on disposition (which can be offset by unused capital losses, or deferred by the rollover to Pathway Multi Series' mutual fund), and 161.51% when factoring capital gains on disposition.
Assumptions:
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Investor marginal tax rate of 48.21% (the highest marginal rate in Quebec)
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Returns are calculated without factoring in the time value of money
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Returns are valid as at the date of calculation, and may not be realized in the future
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General Partner's back-end entitlement has been factored out of NAVs and percentage returns (GP only entitled after 100 % of investor's invested amount returned first, no ongoing management fees)
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Past NAV's
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Date
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NAV |
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May 1, 2009
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$12.02 |
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April 1, 2009
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$10.24 |
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February 27, 2009
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$10.95 |
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January 30, 2009
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$9.66 |
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January 23, 2009
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$9.23 |
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December 31, 2008
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$8.46 |
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November 28, 2008
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$8.25 |
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