Deal with MRE on company's only apparent 'asset'-$3m for 70%, ie...

Deal with MRE on company's only apparent 'asset'-$3m for 70%, ie residual 30% has an imputed carry value of $1.28m.
Cash from transaction, $300,000.
Cash at Bank 30/9=$1,052,000.
Less admin/exploration post 30/9, say -$100,000.
TOTAL asset value=$2,520,000.
Shares on issue, 313m.
Theoretical asset backing per share 0.08 cents.
cf SP 2 cents.
There must be some differential for the value of the historical tax losses and the value of a 'shell'!
Looks like they have just blown away any upside for the time being!-couple of weeks?LOL
Cheers,TAS