Hi, remember this report is at 30 June 2018 so this should be...

Hi, remember this report is at 30 June 2018 so this should be read in light of any subsequent announcements. The Kabuni asset was written off in the last EOFY which was probably sensible regardless of any remaining hope of payment.

I have based my investment on the assumption there is no money coming - I really think it is unlikely. If the money, or any part thereof does arrive then it would be a surprising bonus.

Whilst being down in the .3c range sucks, I am looking at the low market cap, prospective acquisition, comparative lack of shares presently for sale (likely a reflection of many, including myself, having bought their parcels at higher prices), the percentage leverage of each pip up at this price and that directors have forgone salary for shares and options (albeit their shares are in the money already!).

This will all turn on a more ebullient spec market as I think reasonable to good news may not move this too much at the moment. Good news or the prospect of good news in a better market...

For me, this is one of those deeply out of favour plays that will require a lot of patience and a bit of luck.

My simplistic approach to these types of plays is, after having looked into a company sufficiently, to ask myself whether I think the share price is more likely to double than to halve at some point in the next 12 months taking into account where the market is in its cycle. It is on that basis, I recently increased my holding.

Cheers