MinRes will pay out Austroid's "SECURED" debt and purchase Austroid's shares (approximately 10% of Alita). This will make MinRes the secured and only creditor. MinRes will have Alita wound up. MinRes will purchase the Bald Hill asset. Shareholders will be at the back of the pack hoping for a share of the spoils. In all likelihood, once lawyers and everyone else has had their cut - shareholders probably won't receive a great deal.
A40 Price at posting:
8.2¢ Sentiment: None Disclosure: Held
