I am not sure we can be very hopeful about the VA seeing something back to shareholders. My source for the shareholdings of directors was the last notices advised to the market on 21st and 27 August . I have not added them up exactly but it is probably close to 30m shares in aggregate....so directors have suffered an enormous blow especially Rear and Liddell. I assume they are continuing to work closely with the administrator and to my knowledge there has not been an appointment of receivers by Macquarie Bank.
I would observe that Lady Annie remains a low cost producer (at least on paper), and has a long life resource which ought to be able to produce robust cash surpluses.
If it can be resurrected, existing equity holders will still have to take a large haircut on their equity. So not much joy still in my opinion.
regards
DF
CUO
copperco limited
