Sorry mate. Looks like our investment has gone to zero. There is...

Sorry mate. Looks like our investment has gone to zero. There is a legal process in train (Section 444GA Application) that will culminate in the transfer of all CAI shares to the main creditor West Coast Gold P/L. This entity also holds all of the secured debt, and is owned by Mark Creasy. The Section 444GA Application is in accordance with a deal struck between Mr. Creasy and the other (unsecured) creditors, referred to as the West Coast DOCA. Here is a news article on the subject:

https://blog.the-pick.com.au/news/calidus-resources-revival-hinges-on-west-coast-doca-and-mark-creasys-bold-move

The transfer of shares (at a SP of zero) will crystalise shareholders' losses for tax purposes. It looks like this may happen by the end of the year, although the application could be delayed, or even blocked, by submissions from shareholders. The main shareholders have been silent however.

Here also is the report to creditors from the administrators FTI Consulting. It contains a comprehensive account of the events that led up to the receivership:

https://www.fticonsulting.com/-/media/files/apac-files/creditors-portal/cip-public/calidus-resources-group/1-calidus-new-voluntary-administrators-reportv8.pdf

This link takes you to the ASX webpage for announcement from CAI:

https://www.asx.com.au/markets/trade-our-cash-market/announcements.cai