Ann: Administrators commence recapitalisation process, page-223

Yes, that was also my sense reading their update. They clearly want it though, and talk about its quality and the demand for the bald hill spod from customers. That they have also gone to the trouble of spelling out in some detail the process of determining the full range of outcomes from the creditors meetings - highlighting that they may not end up with A40 in the end (apart from being paid back their secured credit). That signals to me, at least, it may not go fully their way, and that they might get outbid. Hopefully, it is a competitive bidding processes - with several majors wanting this high grade, long-life rock lithium mine and its tenements, and we get more than a token treatment in the worth of our shares.

That GXY pulled this stunt with what amounts to a relatively small amount of money (given the resource size and quality etc), I hope they get seriously outbid and outmanoevered, and that their repayment is essentially treated as a 'finders fee' by a major.