Your interpretation of the Implementation Agreement doesn't stack up to the structure we know of.
The first and obvious issue is that the receivers (appointed by secured debtor) are retired and the parent company Alita is in liquidation.
The machinery of the IA seems to be something along the lines of: MIN pays money to Alita to pay the secured debt (Austroid out of the picture) and at the same time MIN buys the shares of the subsidiaries Tawana and Lithco (which own the mining assets etc).
With liquidator's relevant duties, including duties of skill and care and duties owed by a fiduciary to the company, obligations regarding realisation of assets, and the existing Independent Valuation requirement, there is the possibility of a return to shareholders.
A40 Price at posting:
8.2¢ Sentiment: Hold Disclosure: Held
