TTY has "appointed a ‘Receiver’ in relation to the Minjar Gold Project and is ensuring securities are in place until an acceptable loan repayment plan has been confirmed and completed."
This doesn't mean that a Receiver has been appointed over MON.
TTY can apply to the courts to wind up MON and attempt to secure the outstanding debt owed by MON by the court appointing a receiver.
Alternatively, MON can (if they choose) enter into a voluntary administration agreement to address the companies present liquidity issue.
TTY's course of action suggests that they are taking steps to 'secure' the monies owed by MON to TTY without forcing MON into the formal appointment of an Administrator(voluntarily) or a Receiver (court appointed).
TTY Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
