its all ok...., page-56

Thinking that the suspension will drag out much longer until offtakes are sorted and finance renegotiated. C&M while we wait. Sell stockpile or slowly feed it monthly to Jiangte while everything else is sorted out, thus allowing them to still operate their carbonate plant while Alita get their sh*t together.

Must be a nervous participant or two in the Tribeca debt holder consortium if they want to call the default based on not approving the new mining plan, etc. Actual debt payments have never been missed by Alita to date. Tribeca separately holding 90M shares outside of the debt consortium... Likely some internal bickering amongst the consortium which will make this whole thing much harder to renegotiate if some want out while others want to protect their equity as well.

On top of this, Burwill are in a TH and seem to be in a hole. Ideal case they break away from the carbonate line JV and Alita replace them, on similar terms to the hydroxide JV proposed.

Things are not looking good but it's a stretch to say that VA is immediately on the cards imo. Maybe a CR if needed to cover more of the debt in the short term.