You still own your shares, there's a register with your name,...

You still own your shares, there's a register with your name, and your holding. Comet resources also still exists.

The value of those shares is essentially 25% of IG6.

This is where it gets tricky.
1. The shares are held in escrow until April this year.
2. They are owned by the company and not you. ie. they could vote to sell them and raise working capital.

I read in the IG6 thread about a possible distribution of those shares (IG6) pro rata to the comet resources shareholders.
One in the hand, is better than one in the field, in my opinion. Probably the best outcome, then they can start again drilling Barraba etc... either in comet or elsewhere. The directors may not want this because, they want to drill Barraba and relist.

Some draft thoughts,
They should distribute IG6 to shareholders pro-rata.
Matt/Directors should transfer the exploration license to another explorer and a board position.
People can forgive bad luck in a tough market, but not being locked into something they don't want to be in.