Ann: Recapitalisation package, page-123

Yes but the raise has clearly been organised prior to his arrival seeing how that is still a month out.
The terms of his contract (low pay out on No finance) indicate to me they do not expect holders to agree to this. It would be sheer madness to.
I simply cannot believe anyone would vote yes to this proposal - even if you were buying up lots of 6 cent shares to add to your holding - it is an insanely risky proposition given the margins at Morilla and the almost certain value in LLL holding being destroyed.

The new MD has prob got a remit to handle winding things down in an orderly fashion. We just need hope the $10 mill from tranche 1, $8 mill from LLL can facilitate it.

Can't imagine what the sophs buying at 6 cents are hoping for....sell for 8 cents on a spike I guess.