First, GGG have about $20m; probably depleted a bit now, and given AZX had about $7.5m earlier this year, they must be close to running out of cash, so it is not clear where you get the combined company having $30m from. Or are you assuming AZX now raise more than $10m at the current price - somewhat lower than the 73c promised?
Note also in that Pro-Active video you reference, Lawton promised the JORC one week after the interview. It still hasn't arrived nearly 2 months later.
And now JL has set a target of 90km of drilling in 6 months. He has clearly willed the end, without willing the means (drill rigs and cash). So, what is he playing at?
I do hope they come to a resolution in August because this has gone on long enough. Maybe the big shareholders should start to exercise their influence.
AZX Price at posting:
49.4¢ Sentiment: None Disclosure: Not Held