Thanks for the update BT and for taking the time to post.
Nice to know what the likely options are.
You seem to know a little more about this stuff than the average man in the street.
Option 2 clearly would be the best outcome as long as it involved shareholders. It sickens me to think that they would even entertain the thought of pulling that plant apart for a few cents in the dollar return after all we've been through and the hundreds of millions of dollars it took us to build it to a production ready state. Or even after all this that we could have the company (oxides/sulphides) taken from us for nothing only for someone else to profit from it the future.
One would hope that the creditors see this as the best arrangement for all concerned as well and from what I understand if we can get a voice at the creditors meeting it increases our chances of such an outcome.
Perhaps under such an arrangement shareholders could assist with a capital raising. Something we probably would have done earlier had we been given the required information and the opportunity to do so instead of that sh#t they pulled at the egm on the 29th. (Yer I know what your thinking, good money after bad and all that... Or is it risk another 5% or lose 100%). Touchy subject I know but its just a thought.
I've done some reading and it does help one to have a better understanding of the pros and cons of the likely scenarios instead of just sitting back and hoping for the best with not much understanding of whats going on or being considered.
A good source of information on "Deed of Company Arrangement (DOCA)" is as follows:
