Huninni have you looked at the potential outcomes and the...

Huninni have you looked at the potential outcomes and the payoff/loss of each. It's hard to put a % of the outcomes but the payoff is a bit easier to work out

1) receive 27.5m early nov therefore remaining payout is assured --> 60c sp upside 45c

2) top bid fails and only loans are paid out in dec Srk loses project --> 43c upside 27c

3) all bids fail srk retains project probable sp stagnant until viable JV partner found them sp target of 1$?? Upside 85c? this is the one srk would have preferred reading their announcements and looking at the director option issues.

4) legal action by other partner, however srk is owed $30+m secured by first mortgage on properties. Sp falls to cash backing possible with a slight discount --> 10c downside 5c. Hopefully at some point some value may be given to what looks like a billion tonne IO body.

This is my summary but the potential upside IMO is far higher than what is a limited downside due to the cash backing of 20m and market cap of 22m.

IMO if there was going to be legal action there would have been no bids and some complaint about the process, rather than continue along and bid as if nothing is wrong.

This stock is very tightly held wont take much more buying to really get it moving, look at the changes in the top 20 over the last 2 years in the Qrt most didn't sell at >40c and have held right through for years.