If you are in a position to lower your average cost then that...

If you are in a position to lower your average cost then that means you are losing.

The only rationale option for this company is a complete sell down of existing assets and an orderly wind up of the company. There is no other alternative that would yield a higher return to shareholders over the short or medium term. I would then advise shareholders to take that money and invest it in a company that has a greater than zero probability of being a success and you are already better off.

However, this is all very unlikely as management are more inclined to milk what they can off this company before moving onto the next cashed up victim. Or even better, do a rights issue and milk some more.