appointment of receivers and managers, page-137

"The receiver’s primary duty is to the company’s secured creditor. The main duty owed to unsecured creditors is an obligation to take reasonable care to sell charged property for not less than its market value or, if there is no market value, the best price reasonably obtainable. A receiver also has the same general duties as a company director."

That's the situation and for 54m only as I don't see any more owed except the banco loan of 40m outstanding ... As banco is probably not involved..

Who would want to lose all their investment to satisfy one creditor for a relatively small amount..

They w and co can discharge the debt fully for a win win situation and get the relist with the opportunity to sell some of the shares to get their money back .. Or get the sp to spike as mbn will be debt free with a low cop and rising nickel price..

54m odd not 400m odd like last time..that is a huge difference ..

Get a loan from banco of 24m plus the 30m originally offered and solve the problem so no one loses..!

The offer for the whole operation will be 54m if nothing's done.. Lose lose..!