Ann: Cobalt Project Acquisition & Placement, page-117

I wouldn't say CMY has lost the half a million dollars on the deal, they are pursuing this in court. Who knows what will happen - what if BCC doesn't have the cash on hand to pay CMY back and they are forced to revert back to the old deal?? Which can be seen here:

http://www.asx.com.au/asxpdf/20150309/pdf/42x4lgjsn5tbt3.pdf

What would happen to the CMY share price then if that were to happen? We know management are actively seeking deals that are in the right spaces at the right time (lithium/cobalt) so it wouldn't surprise in the least to see them try and get the deal back on track in someway, considering it had to go to court in the first place, presumably meaning they didn't have the cash to pay back the loan.