some valid points but still some very grey areas as well. The...

some valid points but still some very grey areas as well. The outcomes of the court cases will certainly affect both companies, it's just a matter of which way they are ruled and from reading the publicly available information (I deal with a lot of this type of thing on a daily basis) there is no clear leaning either way that I can ascertain.

I disagree with your comment regarding less appealing to the current shareholders. The debt conversion and rights issue clear the solvency issue, that's accounting basics.

And I see the old "manipulation" outcry on a least a dozen stocks on these threads every day with nobody ever putting up actual proof. From my point of view it just looks like a highly illiquid stock due to none of the NME holders being willing to sell at this point. Would love to see your proof and change my mind.

The one thing that cannot be disputed is the takeover attempt by MCT was an absolute failure. I can understand why they launched it, in fact I applauded it at the time as a MCT shareholder, they saw the true value of the Kookynie project and tried to get it cheap. Good strategy given it looked like all the NME holders were disgruntled and would more than likely take it up.
What gets under my skin is even after they realised they were not going to get more than a third take up they kept the process going and launched numerous proceedings which in my opinion is keeping the true value of the project (for both companies) suppressed and all while collecting eyewatering salaries and awarding themselves performance bonuses and doing capital raises to fund and further dilute us.

I'm down about 70% on my MCT investment so I wish I had not heard of either of these two!