Ann: Appointment of Receivers and Managers, page-56

Hi moogar
Thanks for your post.
Re "Based on my understanding of rubbish that this company holds":
-please indicate your source of "understanding"? and
-what is the "rubbish"? If you are referring to the silver deposit, then we can respectfully disagree, because I believe there is a valuable silver asset, which when (not if) silver prices will become very valuable, the same asset that analyst Alex Cowie raved about.

Also, if "money talks" why would creditors want to sell at fire sale prices... wouldn't they prefer to have shareholders (those who believed in the asset) fund most or all of debt? Sure the creditors would get more money that way?

Throwing in the towel completely is not really an option for investors who invested a lot.

Also if debt is very high (and that is big if), there are other options. One option is... I grew up on a poor dairy farm, but my parents owned coal rights, and miner/govt later paid very good money for the land and coal rights. Could we not do a combination of selling off plant/equipment, and keep land & silver deposit, then fund remaining debt from shareholders? Then wait for the big silver surge.
We could either sell assets then, or do some Joint Venture with another miner.
I assume the bulk of the debt is plant/equipment upgrades, which could be sold, albeit for less.
I assume the directors didn’t get us into debt because they went off to casino and lost it all!
What we do know is there was no debt a year ago (according to directors), because the directors said the first priority after share issue after "Investor Presentation October 2013” was to pay off debt, so apart from plant/equipment upgrades what else could the debt be?

Until we find out what the debt is, I think it is too early to make a call.

Btw did you or anyone attend the "Investor Presentation October 2013” at capital cities where the directors promised to not risk the company assets by going into debt, after paying off the then debt?

sid