Billion $ Copper play 2 mln mcap for sale HOR time journey, page-43

from the March 6 announcment

" Following several unsolicited approaches from third parties expressing an interest in Horseshoe Lights, the Company has appointed leading Perth advisory firm PCF Capital Group to carry out a sale process to identify options that deliver best value for Horseshoe shareholders. Any potential sale will be subject to shareholder and any regulatory approvals."

They have $1.5m debt facility to a syndicate of lenders. Why would these lenders extend the level of debt as per the recent 5B ?
Any lender worth his salt should know what is going on.

The July 31 report stated the review process" has generated significant interest, and the company is in the latter stages of finalising an outcome."

It doesn't matter if they sell it for $50m, $20m or $10m....... the current market cap of $2.5m (@ 1.3cents) presents a rare opportunity.

Very much back of the envelope stuff, but add in the obvious capping and it makes this company a good little punt IMHO.