I don’t disagree that the assets are worth something. However,...

I don’t disagree that the assets are worth something. However, on the flip side what is the value of the Badwill of the current management team- -$50m? Nothing is going to be achieved under the current team, if you extrapolate the performance of the last 3 years. The company also has to do a quite major recapitalisation and I now consider the Chinese minority shareholding to be more of a negative rather than a positive.

I wish you well but I personally would wait for management changes and some clarity around the necessary recapitalisation. From memory you also topped up at 10c (???). This could get quite ugly without any meaningful news flow for some months expected.