5hareholder,To answer your question from the other day, BMG is...

5hareholder,

To answer your question from the other day, BMG is going to get wound up. Substantive orders made in December. Feb 22 date is just to determine who pays costs.

The link below will hopefully take you to all the judgements so far.

http://www.austlii.edu.au/cgi-bin/sinosrch.cgi?method=title&query=bonython&meta=%2Fau&mask_path=au%2Fcases%2Fcth%2FFCA

If not, go to austlii.edu.au and search Bonython

This link will hopefully take you to the Court portal and you'll see hoe much time (and cost) these guys have spent.

https://www.comcourts.gov.au/file/Federal/P/NSD1784/2010/actions

My reading of the judgement is that Ample Source International (ASI) initial bought into BMG for access to Hawsons and that was before a confirmed resource and PFS.

The interesting parts of the judgement are that BMG is to be wound up. But the more interesting part is that was not the preferred option for either BMG or ASI as a winding up of BMG means that CAP can but back Hawsons JV at cost. I think that was about $13M but don't quote me. Therefore no need for CAP to wait until May to make a move and they can act before then and take control rather than leave it in the hands of BMG or ASI. Not sure if order to wind up will breach JV or if liquidator needs to be appointed to trigger the relevant part of the JV. I suspect the order itself will do otherwise I wouldn't have thought they would be confident of making an announcement just after final order (which I understand are only about costs).

My guess as to what will happen will be either ASI will enter into a new JV on the same terms and pay CAP the $20M plus fund the BFS or CAP will buy back Hawsons and there will be a buyer for the Hawsons project (possibly along with other Braemar assets) which would provide more than enough cash to pay a nice dividend and fund further exporation of other CAP assets.

In a market where junior resource stocks barely move on good news and if they do, often for a few days before falling back, I am really liking the movement in the share price and look forward to see what happens when there is an announcement.

I managed to top up nicely below 30 cents and would consider topping up more but am already very overweight on this stock, have no cash left until there is some movement on other stocks. Whilst I suspect there will be some short term gain, I think the greater benefits will come in the long term (unless there is a sale of Hawsons).

It took me a while of researching stocks to appreciate how important good management is and how to spot it (or spot bad management). I'm sure Nick and the boys will do the right thing by us whatever happens.

Above is just my opinion, do your own research and take the time to read the case judgement (or just download and search for Carpentaria and Sheard and read around those parts).