The future

Moorooka,
This is my prediction on where we are heading within the next 2-3 years.
The next milestone must be procurement of a washplant. The best way to do this is debt finance with a component of off-take agreements. While there is talk of $US25MM, the amount required is closer to $US100MM. I like off-takes because it would not tread on Mr USA Sanction's toes thereby including the Japanese.
At about the same time frame to get us into 1-2MMtpa, the Private Equity component of the share holders will be wanting a resolution to their investment. They will oppose anything under 20c, I'm very sure of that. And they are capable of blocking any low-ball offer. Retailers will have no say.
The best fit for a takeover, in my opinion, is a Russian miner and Mechel would top my list. The Russian Government does not want to mine coal. Mechel is capable of getting Western finance especially if the sanctions are eased. The sanctions, as they relate to TIG, are damaging the West. Here is an opportunity that is being steared toward the very people they are trying to punish. Maybe this is where our Board could play a big part, viz., publicly demonstrating that the Sanctions and the words "dirty coal" are irrelevant to TIG.
In other words, I don't think the Sanctions are barring a takeover, and for sure, the word "coal" is no problem to a Major. It is the requirement of a Major to prove that a takeover is a safe thing to do (ie, is legal within their Corporate structure) and this means they must see proven viability of the operation.
In summary: get to a 1MMtpa of washed coal operation then open the office door to a buyer.
The current share price is totally meaningless. It is little more than a backroom poker game for small players. Most of the time there is no one playing because there is no deck. Off course, there is always someone lingering outside (like Mr R) hoping the game will start.