162m / 370m = 43.7c so your maths is wrong somewhere. On the headline (unadjusted) amount of 173m it's 42c (173m/370m * 0.9)
The shell value is 180/370*0.1 + whatever value is in the company already (I think they did have some funds + the value of the shell) = 5c + the value of the existing shell + funds
Total value is 48-50c on last traded price of 41c. Pretty solid returns as long as they don't buy a dud with the 10% remaining funds.
Ann: Receipt of US$16m Final Payment from Sale of Colluli, page-7
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