Bald Hill - A40

For those who remember the fiasco with GXY's significant holding in A40 and then botched attempt at acquiring it when it went bust. There appears to be some development with the proceedings with the Chinese company that pipped GXY's bid. FIRB approval has still not been forthcoming and ASIC have now advised the administrators that they need to obtain an updated independent expert report on the valuation of the company.
The last time it was deemed that the value of the company was not worth more than the outstanding debt, so nil consideration was to be be paid to shareholders for the transfer of their shares.
In today's market however, a fully operational spodumene mine in WA, running at 160,000 tonnes per annum, if selling at current pricing of around $5,500/t would be worth somewhere in the region of $4-5bn.
I'm not sure why AKE is not going full tilt at another acquisition attempt (maybe they are?) but in any case I believe they still own a significant shareholding in A40 which if a new valuation comes in may be worth something now?