Wow $5m for Paulsens, maybe you should have a look at the...

Wow $5m for Paulsens, maybe you should have a look at the updated PFS done in Feb last year.
This gave the project an NPV of over $100m at an IO price of around A$150/t, at around A$190/t it would produce over $300m in net cash flow over 3.5 years (current IO price around A$200/t).

Notice neither FEX or CZR in trading halts so might rule them out (though may not be as material for them).

My guess is they sell a chunk of the assets to pay off the debt and get us back into production. Firstly because that is probably the best way to realise maximum value, and secondly because if they sold the lot that would be the end of the gravy train. The only thing that would be left would be the LEL holding and it would be pretty hard to justify not simply distributing those shares to current shareholders and winding up the company.