From what I can understand of the deal I would rather vote NO...

From what I can understand of the deal I would rather vote NO and see the company go into liquidation and get zero back than own worthless shares in a zombie company. I just have to hold out the slim hope that one of the major shareholders or another suitor can come up with a superior offer.

Even if they did a capital raising at 1c and issued another 2 billion shares to pay down some debt and enough working capital to start mining again that would be preferable to this capitulation. Actually, that won't work will it? It would only raise $20 million. Crickey.

Obviously the lenders want their money back and are happy to write off the shares they were issued in lieu of interest payments.