re: asic first then takeover panel No, the directors stopped all...

re: asic first then takeover panel No, the directors stopped all spending on Grosvenor West a long time ago because it couldn't be funded even at $500m Capex using contractors because it was UNECONOMIC, without even looking it up I can tell you that Helmsecs (Directors) best case cash cost was $128 a ton.
Based on your $130, who would lend money to fund an operation with a 1% margin before admin and finance costs, operational risk on ramp up , DCF effect etc.
So the Directors stated that they would focus on getting Bluff as it required lower Capex, but in the end too would not throw off enough cash to fund Grosvenor.
Re: FMS you posed the question where could you get a $10b resource for $70m or so , I merely gave you an example where a company is 10 times more undervalued than CLR, the number of shares are irrelevant as they have similar enterprise values, and they both have ingredients to making steel!!