Mr Ching has managed to get 40% of the graphite asset for $3.5...

Mr Ching has managed to get 40% of the graphite asset for $3.5 million plus the $750K he put into NXE. I am sure he is planning on taking up the other 40% down the track for even less as the asset is now unsalable to anyone else.

I wonder if Mr Ching was told Arena had refused to pay Tranche 2B when he invested?

The best outcome for the shareholders at this point would be to to call in the administrators and try to unwind the Fura and Mr Ching deals. I know our South African Wonderboys™ won't be too concerned if it all goes pair shape, but you would have to think the chairman might be a little worried. Has anyone written to Ian of late?