Just a few notes on the threatened litigation:1) Note that at...

Just a few notes on the threatened litigation:

1) Note that at this point, the announcement mentions only 20 million shares, not the whole 60 million from the placement back in 2009.

2) IMF has just finished an institutional placement. I wonder whether the timing had anything to do with that.

3) Have a look at p.10 of IMF's presentation (Ann 2/10/2013). This gives you some figures about how their cases typically go. Most cases are settled or withdrawn.

Based on that, I choose to think that the whole thing is still a big bummer, but hopefully not a catastrophic risk to BAU. Either way, it has been affecting the share price long enough now and needs to be sorted.

Current MC is 24 million. Company has 43 million cash, i.e. loss of 20 million is already priced in, and resource valued at nothing.