Ann: Appendix 3B, page-12

Management have not wanted to cede control of the existing shell to someone else.
Doesn't mean they can't attract a vendor.
Resistance to one does not necessarily equate to the other.

Having said that nothing is for certain in the shell game.
It's high risk stuff which is not for everyone and there are other shells to choose from too.
I'm not management's biggest fan and cash burn is too high (feels like still milking the gravy train).

But with $1.2m MC and with signs that a deal is imminent, I'm happy to wait it out.
As long as they don't stuff up the capital structure (i.e. ODN & RYG played it right by letting the SP run from under the 2c limit), this has the potential to run on acqua announcement.