CT you have some excellent points to make about the scenario....

CT you have some excellent points to make about the scenario. Following it, you must either believe that the Directors are totally incompetant as managers of a multi-million dollar exploration company or shrewd operators who always had a plan B firmly in place. I wrote to John Kelly about Luzon in December asking him if at 4c they were now a good buy worthy of Republic attention again(especially since the capitalisation of the whole company was now less than the 2 million they owed Republic). His response was...'Our lawyers will be very busy over Christmas'. Which would otherwise have led me to believe they were still working on a settlement. However following the Mt Carbine affair, and considering previous experience I have mentioned on HC, leads me to second-guess Mr Kelly, rather than take everything on face value.