todays the day, page-5

My 2 cents - thoughts as to what and when:

Either tomorrow or the day after there will be an announcement that BMG have NOT contrinbuted the $25M. I'm thinking it will be deliberately vague as to what will happen (eg: CAP are considering their options for how to best progress the Hawsons project and may repeat comments from past announcements about the ability of a third party to buy the JV).

Thereafter, be patient. I think the next announcement won't be until sometime in June at the earliest. Whilst the liquidator has the court order to wind up the company, the liquidator has an obligation to achieve the best outcome for shareholders. Therefore, the liquidator may want approval from their lawyers before formally agreeing to handing back the Hawsons JV agreement (thus covering the liquidator that they have not overlooked something in the JV).

We've had a long wait to get to here. Whilst the BMG litigation is over, I think we'll have to wait a little longer before we have a clear understanding of the way forward for CAP.

I agree that the market is not expecting a $25M payment so I don't think there will be much reaction in the next few days. Thereafter, if I'm right about the next step taking some time I think the share price may drift lower as some will expect something sooner and think no news is bad news.