Possible scenario, page-19

I am out at 0.9 cps and can't believe that I could bail out at such a price and take a smallish loss. It is getting very hard to find a penny dreadful that isn't dreadful. I should have trusted my original suspicion that the Liquidation of Termite could have implications for IXR. I very much doubt that the Liquidators will want to settle below 50% of their claim and I suspect that the Board was aware that it had a potential claim and that the cornerstone investor will pissed off unless she was briefed before she bought in. IMO this will need a further substantial investment in IXR by a/the cornerstone investor to allow the company to settle the claim and survive and hopefully the completion of the PFS may enable that to happen. If so, I will consider getting back in then b'cos there is still enormous upside. In the interim, I will consider another graphite explorer that is progressing down the path toward production and presently see three strong contenders being Magnis, Kibaran and Triton and am leaning toward the latter.

ANZ