Reading that article seems to indicate that Sembehun won't be going ahead anytime soon as I doubt they could get financing at the moment. Have to wait and hope there's a turn around in rutile prices later next year.
If the major shareholder was to organise a Takeover offer at 20c+ then it might or might not work - hard to say. Again it depends on their timing and the newsflow - the asset value is still there and their dominant position in the market is intact.
Ann: Quarterly Activities Report - September 2023, page-14
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