The drop in Nickel price during GFC sent them into administration. Jinchuan used this to gobble up the assets cheaply (major dilution, there are currently double the number of share in issue, all owned by Jinchuan for peanuts plus another load of potential shares in the form of loan notes convertible at US6.5c). Perth Broker Hartleys have valued it at 50c per share minimum but nearer $1. However Jinchuan need to do 2 things to achieve this. Convert all the loan notes to ordinary debt and START complying with ASX listing regulations. They don't want to do either, but we are putting them under serious pressure to do both.
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Not sure if it is worth the bother? look at what your shares are currently worth deduct this from what they
would be worth at 50c then ask yourself what you would have to do to earn that ammount in another way.
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