can it be , page-23

cpg, how did you come up with half a brick. Sounds like you just pulled that figure from.....somewhere

I believe that CHM are more likely to have a case in some form than no case at all. If you read my previous post you will see that I believe there is a case against the directors. If they acted against and outside their fiduciary duties that can actually help to pave the way for a claim under a precedent of constructive trust.....so to speak....after a few pints of bock

the shares and cheques issued seemed to cover part of the cash component of the arrangement with the vendors. There was somewhere in the order of $1M cash to be paid to the vendors. The vendors were to also recieve 5% of the shares on issue when Murchison listed. CHM had no part in that. Thats $1.4M right there assuming 20c issue and roughly 7 million shares.

Id say its pretty safe to say that IF CHM have a case, and thats a big IF, then they may only be entitled to around 30% max as NiCu had taken care of the rest and CHM helped out with the balance.

Settlement will quite possibly be in shares.

There is a catch here.

A result for CHM will be a negative for Murchison.

CHM could be rewarded with devalued Murchison shares.

CHM would need to get a result of above 2.5% ownership in Murchison to justify their market cap today. I reckon its safe to say if they did have a case it would be for more than 2.5% of Murchison.

The question therefore is "do they OR dont they"

As of today I have a small amount that says they do. (the smallest position in my portfolio actually). I cant do any worse in this market.

Good luck. Im due anotherie...glass is empty.