From what I can see this is the current story with SRK-Current...

From what I can see this is the current story with SRK-

Current Market Cap = $19mil

Cash in Bank = $20mil roughly

After shoot-out clause to be concluded in 4 weeks one of two things will happen-

1./ If D & C match the SRK offer, a repayment of US$30mil will be triggered so that'll mean Cash in Bank of approx $50mil with a Market Cap of $19mil

2./ If D & C walk away, SRK takes 100% of a world class iron ore project (Xtrata offerred circa US$400mil for it pre-GFC) and will remain with Cash in Bank roughly of $16mil with a Market Cap of $19mil

They also have Berau Coal and Iron Ore project with minority interest in Pilbara too.

I'm either going mad or this looks highly undervalued???