Ann: GXY: Acquisition of Senior Secured Debt Facility, page-73

albatrosss
Obviously something had to happen before the cutoff time (was it midnight 27th Aug.) and it would seem no one put their hand up except GXY and as you suggest maybe it was in GXY's best interest to come up with the funds to cover the debt which now accrues $12,100 daily (3.665m for the 9mths to next July1) on the principal amount (28.8m) for GXY.

So next July, A40 need to come up with a base 33.2m plus other admin/fees on top or if not have GXY extend the time frame?.

GXY has had a bet E/W here (holding 1st ranking over all assets on default) and it all depends on the timing for a Lithium Demand/Price turnaround.

Its upto A40's Management with some involvement from GXY as to what goes down from now and unfortunately to a large degree its dictated by the timing of the Lithium Price turnaround
I dont hold A40 but hold GXY and I cant make a call on A40 coming out the other side on their own before July1 2020.

Who can and being realistic here the Market wont/shouldn't take kindly to the Share price on reopen and going forward if there is no turnaround for Lithium on the horizon.

The turnaround is coming but is it in time for A40 on what your CEO can come up with in the weeks ahead.

Its a tough call going forward for A40 holders on what to do......... either ride it out or get out.
The first positive for A40 holders is having GXY now in control of the immediate debt and then whatever your CEO can come up with..... will rule the day going forward in the short term.
Good luck all
Md