The process underway, which has been on going for months...

The process underway, which has been on going for months (potentially years) by Galaxy, is for control of the assets of Alita. They took an equity stake just under 5%, continued to acquire equity and now have acquired the company's debt. They are playing the long game, the posts regarding the cost of equity acquisitions by Galaxy may not be their boards greatest concern if they can acquire the assets of Alita and obtain a mine with a production life of many years.

This strategy has probably been known to the board of Tawana, Alliance and now Alita for some time. Remember Cowan being spun out, that was not for the sake of it. It has been a race to get the company into a position of strength to be able to fight off any attempt at a take over. This position is growing weaker by the day. Outside assistance is now needed.

The stewardship of the company by management and the board has been substandard to say the least. The company was and still is susceptible to a take over, change in control, whatever you want to call it. I would disregard any public statements made by management for either side. It is a fight for the assets.

Hopefully another party will come to the aid of Alita, otherwise the company will be declared insolvent and will be liquidated. Based on the capital I invested and from reading others posts, I hope that outside party presents itself soon.