Ann: Quarterly Activities and Cashflow Report, page-4

value on shell irrelevant at this stage imo - a "cheap" shell without a project is totally useless. All that matters is locating a good new project and then hopefully negotiating a good purchase price to acquire that projects. Until that is done, this remains just another dud that has burned an awful lot of shareholders. Not much use crying over spilled milk...but hopefully somebody on the Board is at least actively sourcing a new project. Personally, I would be surprised if they got their act together with a new project within the next 6 months...but, hey, they may surprise on the upside for a change.