Good News & Bad News, page-8002

It depends on a few things.. PLS had to present the form of its DOCA to the receiver so that it could be voted on at the end of the receivership process. It will only be presented for a vote to the creditors if it is the preferred or highest bidder in the process, which they will not know until later this month. If there is a counter bid or bidding war they have the ability to match or beat it, or walk away with a break fee.

PLS is best suited to take the asset and is best placed to turn it into a working fully facilitated operation by fixing the flotation circuit and utilizing the sterilized ore body, but that doesn't stop someone else from submitting their own case to the receiver. The secured creditors will still be paid so it will be less about who can make best use of the asset and more about who offers more money in my opinion. Not sure how much the creditor cares about the end result of the mine itself so long as they get paid first.

I anticipate if there is a need to raise more funds it will be done at a different price, given the SP appreciation since its initial proposal.