Ann: Carbine to acquire the Muchea West Silica Sand Project, page-42

As you indicate I don't see (1) as likely

For your (2) I think they're is definately some element of likelihood As IMHO they clearly benefit from bringing the project into a listed vehicle - cash wise the vendors are only seeing creditors paid though that could well be the vendors (in the grand scheme of things it is not much cash). The vendors are receiving shares and options (exercisable at 6c) - they are not really getting any cash out of the transaction. If the project is not reasonably capable of proceeding why transfer their asset into the listed vehicle and accept shares in that vehicle if they know the project will not proceed.

That the options have a strike price of 6c at least shows there is an expectation by the recipients that they believe there some prospect of getting to around that figure - my average is not too much above that as I did average down just prior to the the trading halt.

We existing shareholders stuck in CRB with dwindling cash resources in a company that has limited options in terms of getting into a