Ann: Suspension from Official Quotation, page-4

Takeover?!?! Care to elaborate?

My opinion:

If the bondholders don't agree to waive the covenant breach, presumably the bondholders will call for immediate repayment of their principal and MDL and its co-venturer will each need to raise a LOT of money (and quickly) to meet the call.

If that money exceeds MDL's fundraising ability, MDL will be insolvent and presumbaly tipped into administration. ie. game over.

As the bondholders and insiders would know of the outcome of the waiver request before the general market, they would have the ability to dump stock before the general public (knowing that MDL was effectively worth nil) which would create an uninformed market, hence the trading halt.

Best case result is that the bondholders agree to waive the covenant breach for a year in the hope of a recovery in operational output and mineral sands prices.

But at least it has answered the question of "how does BSE has hundreds of millions of debt on balance sheet and MDL none if both have constructed mega projects in a similar timeframe?"