Ann: Trading Halt, page-19

If they have given up on the possibility of funding the new mine development, which sounds likely, then cash burn won't be huge as it is a straightforward liquidation. May look to sell mining rights and existing infrastructure which could take a few months.

best outcome would be to get $50M mine rehab provision back in a potential mineral rights sale. Someone could bend Sierra Lions over a barrel for future mining royalties if they agree to restart the mine.

Also, with other rutile suppliers suspending production (Illuka) , and customers knowing supply might be restrained they may get a good price for inventory.