ploughI have to agree that the toll processing at Menzies was a...

plough

I have to agree that the toll processing at Menzies was a problem for Regal. Very unsatisfactory outcome.
One hopes that management have learned valuable lessons from the experience and in future will exercise greater controls over the actions of the contractors and undertake future activities in a more prudent, economic fashion.

As to the way forward, to preserve and build on the economic assets we have it makes sense to me to have a 'major' join in j/v and conduct exploration on the "satellite projects/prospects" so that Regal can concentrate on proving up additional reserves on their primary assets, in order to get as much impact as possible from the funds deployed.

It is unfortunate that as a junior explorer (seeking to become a producer) Regal is competing with the big players for 3rd party services in the middle of a resources boom and a skill crisis.

With regards your comments about opporunities to sell, i suppose as holders we both had opportunities to get out before now, but we're still here (i assume) because we both like the assets, which we believe have significant upside appeal. With sp at this level its a bit like getting in at seed level with virtually no downside, esp when you consider the JORC resources already in place and a major as j/v partner.