It was never a free purchase.
The purchase of the secured debt was part of the price and we don't know what the GXY proposal to unsecured creditors contained or the costs that have been incurred from continuing working cap even though Bald Hill is in C&M, VA and Receivers costs, staff redundancy costs - including the higher retrenchment payments the A40 BOD passed weeks before going into VA alongside their pay raises, and then there's costs of any other consultants hired along the way.
The GXY DOCA proposal was never a free grab of the assets. It would have been a major cash drain on the business.
Should the GXY BOD walk away, in my opinion yes. Put the funds towards developing a non marginal asset that won't sit in C&M for years.
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