the real risk, page-3

"If they drop the 90% requirement (why would they ?) it infers they will pay only .19 cents share"

But there is nothing stopping SOL just determining to waive the 90% condition but still pay 26.5c. If they were to maintain only paying 19c everyone would have the right to withdraw.

"To delist will they not have to return funds to existing shareholders ?"

No. EXS continues to operate but is not listed on the ASX, thus locking minority holders in without a market in which to sell their shares. SOL may have even done this in the past with other companies that they have partially acquired.

"I should benefit from the bluesky that SOL see as large holder."

What bluesky are you referring to? If they stop the drilling and do nothing with the cash in the bank, where is the upside?

Additionally, if DB, the hedge fund drop their shares into the facility, as one would expect them to do for the half cent that they are looking to reap quickly, this whole game could be wrapped up before the mid or end of Nov.