RCF are an investment fund, their goal is not to run companies, but rather to buy cheap and sell high. To achieve their goal and make a profit on their already invested 120M$+ capital in MZI, they need for the stock to become a multi-bagger (at least a 15 bagger from current 10M$ market cap level).
Moreover, and to address specifically your point, my understanding is that if a mining company goes bankrupt, production would stop and the mine/plant should enter a "care and maintenance" phase. If the company goes bankrupt (due to insolvency) and production dosent stop because RCF (biggest shareholder) jumps in and re-buys everything cheaply and goes private with its assets screwing other shareholders in the process, then my understanding is that this is simply illegal and the case should be easily won when shareholders sue them.
If RCF decides to pull off the plug and refuses to refinance MZI by january 2019, then its over for their 120M$ and they have to explain that to their shareholders. Hopefully they wont have to do that. Time will tell. I am still optimistic that MZI and RCF interests are aligned and RCF will accept to give us a last chance, it would be foolish for them not to do so now that we are so close to profitability with a clear path for upgrading the plant, improving substantially our recovery rates (resulting in lower costs, higher margins) and becoming a cash cow machine by H2 2019.
Happy end of year to everyone and let 2019 be the year of higher titanium and zircon prices and finally a lucrative multi-bagger MZI investment after 3 years from starting production !
