I’m not an expert in geology or investing, so my insight is limited.
It seems they have a feasible project, they just have a problem with power supply which is solvable in a number of ways, most of which are costly solutions. Possibly the simplest way to afford the power solution is for them to increase the resource base by drilling those thousands of holes they have mapped over the past few years which all look promising. I think this is what they have been doing until the license issue became a problem.
The Hardman report in 2010 valued the project at around 100c per share, taking into account some dilution. I’m sure there has been more dilution than originally envisaged, but with 100c you have a lot to play with, especially if you are targeting 1 to 5 c
If the litigation fails then I still don’t think they will give up, they are very determined people with a lot of personal wealth tied up in the fortunes of the company.
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