Ann: Appointment of Corporate Advisor & New Project Search, page-31

Yeah not sure about current cash holding mate, I've only been back a short time since being a previous holder and haven't gone back to look, I remember we broke out of negative EV around ~2.5 or something, so we're only trading at around 30-35% higher so that's about where you're landing, so maybe your cash estimate is about right. Anyway I was just quoting old mates figures for a bit of fun. Doesn't matter which way you skin it, this is priced wrong and doesn't have acquisition potential priced in properly yet (like you say with any luck we can get to 4c+ and churn there until acquisition... Not sure why your sentiment is hold