Ann: Suspension from Official Quotation, page-221

My take is they submitted the new mining plan after Tribeca had already come to them and raised the following:
Failure to comply with the physical parameters of the preciously approved life of mine plan
The Company suffering a material adverse effect to its business and financial performance as a result of the deterioration of the lithium spot price and weakened market demand for spodumene concentrate
My assumption is that Tribeca reviewed the new submitted plan that assumedly didn't resolve their concerns, decided enough is enough, and immediately served a notice of default. It appears they then granted a further 4 day stay to allow MC a chance at a last ditch Hail Mary.
Your worst case that you can envisage is a CR at these price levels but suspect they can still sell down inventory before that happens? That is your worst case scenario?
They have until Tuesday 5pm to either complete a CR or receive a letter of credit for the inventory based my reading of today's announcent. The other option of course would to find refinancing in that short timeframe, and I am confident that if MC can pull off that feat it will not be on more favorable terms than the current loan they have defaulted on.
Now that MC has brought operations to a standstill during the stay period, I don't see Tribeca granting further leniency.
I feel badly for posters who may have had serious concerns following the the last quarterly report or the announcement of a strategic review who may have listened to the plentiful reassuring super positive views.
AIMHO