The last paragraph of the announcement says it all... "With no...

The last paragraph of the announcement says it all...

"With no direct improvement in Bandanna's financial position and with limited ability to raise additional funds to progress the grant of the mining lease, the Board formed the view that Bandanna was not able to continue as a going concern."

Now unless the tooth fairy is real you can say goodbye to your money.

The $70m left in the kitty will go to pay out outstanding commitments.

Shareholders are the last to be considered.

Someone will pick up a good coal mine.