Not sure about the two tax loss scenario ... the haywood investor could see little difference in the potential of lok and lok.a when all is said an done ... so can adjust the average cost base lower by selling the lok at .465 and buying the lok.a at .395 .... if you see the two classes of shares as financially equal when whatever occurs you reduced your cost by about 15% ... small number of shares ... after all we are only talking about $93k going down to $79k .... but thats a healthy return regardless of the magnitude.