Look at the last paragraph of page 14 of the general meeting notice.
In particular the last sentence.
Then logically from that, the next step is "does our Company have the money to repay the loan to Rio Verde (the company created by the directors in October, and the loan that - as far as I can tell - was not mentioned to the market at all until this announcement).
I think the answer to that is no. But I would like to be corrected, if I am wrong.
Then that means that the company defaults on the loan if the resolutions don't pass, and Rio Verde can elect to take the assets of Atacama Holdings (the holding company owned by Metallum, that 'owns' the Chilean assets).
I'm not even certain they would become liable for the liabilities in that case. They could just get the assets.
MNE Price at posting:
0.1¢ Sentiment: None Disclosure: Held
