Offered 2.5% today by Westpac for $100K plus, page-15

Operating cost is clearly an issue, always has been and always will be whilst they chase them fanned gold veins and Challenger. The creative accounting going on is obvious too. They also don’t have enough resources to draw upon to provide a decent pay back on the project and a return to shareholders. There will never be a return to shareholders imo, they’re living in the director/s former glory days. Probably better off to shut down challenger, process Tarcoola ore and try fast track toll treatment of TYX ore. The latter might be some time away yet though, but at least it would stem the bleeding to a degree.

Given the lack of turn around success with BAPL, it’s not painting a very colourful story for the success of their legal case with Pybar either. Hard to prove pybar were’nt fulfilling contractual requirements when they still can’t make money all this time since they’ve been gone.