I should also add...What is mysterious to me about the current...

I should also add...

What is mysterious to me about the current low SP, is that more speculators have not bought in given the high reward in a success case versus the RELATIVELY LOW downside if there is no discovery.

Even if the SP was $1 right now, a success case could easily prove to be a 6 or 7 bagger. If there is no discovery, the SP would probably drop back down to 50c, in which case the company would probably have to consider liquidation and an in-specie distribution of Cue shares to NZO holders.

That would be worth more than 50c per share. So realistically, even at $1 the downside is less than 50% but the upside could 600% or 700%.

The last trade was 66c, and there have not been any sellers for a while on the ASX. Some volume would pick up again if the SP was around 80c. At 80c the risk-reward equation is even better.

It isn't a free lunch by any means right now (it pretty much is for me as I bought in at an average of NZ50c...). But I think this would still qualify as a Mohnish Parbrai "Dhando Investment". Heads, I win. Tails, I don't lose much (relative to my upside).

But I could rail against what I perceive to be crazy Market behaviour all I want - at the end of the day the market is like "the customer" in that he is always right! Ha!