As a long term sufferer of this debacle I can shed some light.
After Glencore called in the receivers it took the decent tenemants and left the company as a shell with a couple of relatively unexplored tenemants.
The company was then restructured with the lucky punters (including me - I had 1M of them) ending up with 1 new share for every 50 they origionally had. They then issued new shares to the promoters of the reorganised company & creditors further diluting the original mug shareholder (yes that's me again).
As part of the above process the company was suspended from ASX & removed from CHESS sponsorship. You still own the shares (albeit 1/50th of the original number) & you will have been sent a new share certificate/statement with an issuer sponsored number. Just find that statement & give it to your broker & it can be put back on CHESS. I use Comsec & I have my holding back on CHESS (not that it is worth diddly but at least I can sell before 30 June & crystallise a rather embarrassing loss - at least I won't pay ant CGT for a while).
Cheers
T
MRX Price at posting:
1.1¢ Sentiment: None Disclosure: Held
