sid, I'm not sure what you mean by "no decision can be made until total debt is announced." The only debt the Receivers are interested in is that of their appointor. They need to realise the assets underlying the security for the best they can. If there is a surplus after paying off the secured creditor, they pass the balance on to the Administrator. The Receivers could sell the mine today.
The raging battle between phyzz and paper has been in its final stages since at least 2001, when I first bought Macmin. I'm not holding my breath on that one!
CCU's mine had to be in better shape than AYN is after so long of probably not much C&M. It was also a simpler operation, not heap leach with the liquor ponds. Whatever, you still have to buy the assets and then fund the rehabilitation bond and working capital. Which will be much cheaper than paying off the debt to get the company relisted.
Like Harry.h I wish you the best - but I think he's on the right course.
AYN Price at posting:
0.1¢ Sentiment: Sell Disclosure: Not Held
