Ann: Blackham to undertake significant recapitalisation, page-17

If MACA didn't support this recapitalisation then they'd probably have a number of their own issues such as
lots of staff on this project out of work who'd need to be paid out due to redundancy.
Double down and hope for the best?

"The recapitalisation plan is underpinned by the intended support of Blackham’s secured lender (Orion) and key mining contractor (MACA)"
Orion are expecting to be have the funding facility closed in 2018 so if that happens they will get their money back.
Why wouldn't they support it?

A positive that directors are going to put their money in the hat
However, if I had the choice of:

i) keeping a high paying job for another year with the caveat that I put a portion of my wage into what is basically a call option on the shares of the company
ii) unemployment without a redundancy package

I think I'd take the first option.