Ann: COVID-19 Update, page-47

Yes exactly how Hamish explained it to me on the phone.

give up the assets and reliquish the debt...

GMC is left with whatever the smelters can be sold for less the debts and liabilities on the balance sheet.

rough estimate would be less than 2m left over...depending on who would buy those 16m dollar paper weights smelters...

Those who know of Hamish shouldn't be surprised at this, his track record of managing companies into the ground is infamous...

I'd be surprised if ASX let's this trade again...

Investors need a miracle buyer for the 25 percent of the project which also takes up the 5.5m debt...

Take your anger up with the Hamish there is truly no one else to blame