Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-116

I agree the process can be started early. Why are you assuming that isn't going to happen?
There might be complex considerations in play, and it's best for them to announce the return of assets and get it done quickly though, IDK.
After that is done quick they can decide what to do with the shell. Possible to relaunch with $3 mill and a tenement somewhere I guess. Might be good to do given it would still carry the potential tax losses on the books - should it ever be in a position to make money again.

Speaking of which, Q for any accountants out there - does the interest on the cash on hand come tax free atm due to previous losses?
5% on $30 mill isn't inconsequential. At least pays for the lawyers to handle the return of assets and whatever the next step is.
Every little bit helps really.