Roger Dent
CEO & Director

All right. Well, good morning, everyone, and welcome to the first quarter Quinsam conference call. It's only been a few weeks since the year-end call. So there's not a whole lot of news over the last number of weeks. The first quarter results are out, best quarter we've had in a while. We made over $1 million addition to NAV and NAV is now nearing $0.12 a share.

Second quarter is, at this point, also looking good. Obviously, there's still 6-weeks to go. But as of right now, our NAV has advanced from the end of the first quarter by another few hundred thousand dollars. Key performance drivers over the last number of months, probably the two most important have been Nevada Organic Phosphate, which we've owned for quite a long time. We were kind of a seed investor there before it went public and have added since. It's made a great deal of progress. When we started out, it had a $1 million valuation more or less. It now has just closed a financing of almost $5 million and is sitting with a $30 million, $40 million valuation. So that's been a very solid win for us. We've owned quite a lot of it. We've also sold quite a bit, but we did actually participate in the financing last week.

Another key driver for us has been EDM Resources. This was a very modest purchase going back about 2-years ago. It's a Canadian mining company. They're looking at restarting a past producer in Nova Scotia. It's a -- very advanced situation. It's got a huge amount of capital that's being expended, and it's basically ready to go. It's just held