If there was nothing in this for the shareholders, board would...

If there was nothing in this for the shareholders, board would have let creditors appoint recievers and accelerate their security. There was no need to go through all this effort if at the end of it they were left with nothing.

There is life left in this. Let's wait till end of May. None of the brains on hot copper expected the sort of ops improvements we have seen from the company. I say they can pull off 15k volume per month for next 3 months, get rid of Tanzania at whatever cash they can get and at that stage evaluate the capital structure. Somewhere in between raising equity and pushing out debt further (once lenders are satisfied with 3 months of performance they are likely to support). There would be corporate interest as well if the ship appear to be turning a corner. Let's wait for next announcement. Last 3 have been positive.