Ann: Placement Completed Appendix 2A and Cleansing Statement, page-80

If we go with option 2, if not for Bell no settlement on Indee and no cash to drill so they would be completely f**ked now.

Instead Bell make a quick buck on the CR's and get some naive suckers to fund more drilling, who are down 10-15% on the 2nd cr before they blink and that's about to become 30-40% on bad results.

Based on that the board have done well to raise $27m on a dud and kept it afloat for another year and collect their pay checks.

Option 1 gives everyone the opportunity to trade some stock for a quick 30-50% just like the 5c cr as it traded back to 6.4c 3 times for 30% gains.

This stock has done it consistently on the way down.
I'd expect it to get back to 4.8c gap which is 20%.
After that who knows. 2c or 20c both are possible.