Pls note the substantial tax losses they have in place. This...

Pls note the substantial tax losses they have in place. This explains why they have a cash backing of 24.4c/share.
I am sure that David has done his research properly.

see below the paragraph from David Haselhurst's article.

Other assets remaining with CCI apart from the cash, include its value as a shell of at least 1c a share plus substantial tax losses from its Bulong disaster. That's why I see no downside in it, a certain if perhaps modest profit and potential for further upside in the next month or two.