Ann: Appointment of Administrators to Cromarty Resources, page-58

I would like to think that you are right and that there is some residual value for shareholders here .
I don't think that RVR owns the processing plant so would have to buy it or debt swap it from the receivers .

Obviously at some stage if there is residual value then RVR would need to raise more capital and the raise price would reflect that residual value .
No sugar coating it , it depends a lot on how much RVR owes as guarantor of Cromarty debts and obligations and the value of RVR's assets .

The value of their other assets are problematical for a business in distress and there will be Vultures circling .