For them to pay a dividend, they would have to make money first,...

For them to pay a dividend, they would have to make money first, so no dividend.

Returning cash? I don't think so. If they gave back any portion of the $15 mil +, then not only would the company be worth nothing, they would have no prospect as well.

So that leaves two options.
1.Wind up the company and return all funds to shareholders. While that option would get my vote, it is unlikely to happen while directors want to have a job.
2.Buy some project for part of the money, and keep the rest to cover exploration costs. And then pray like hell to find something. (I recall a quote from old Rene a few years ago. It referred to looking for oil, but it equally applies to exploring for anything - 'It's easier to NOT find oil, then it is to find it.') With their brilliant track record (NOT!) for delivering shareholder returns, this has a good chance of prolonging the agony.