AZZ Opinions, page-94

Out of interest, I would like to know what you think appointing an IA will achieve? It won't achieve a sale or JV. It will use up the scarce resource of cash that the company has . It does not appear from the meeting
Notes that there is any scope or limit on how much money they can spend. It looks like a giant ass covering exercise by the trustee at shareholders /noteholders expense. The company has been already dragged over the coals by both ASX and ASIC who have been made privy to all documentation and have had nothing further to say. Likewise , the company at this time of year has its annual independent audit so again what is this process going to achieve?
As far as valuations go, there is no production on these
Leases to generate a DCF valuation and even if there was it would be negative at $34 oil . I would also respectfully ask all those who say they could get $30 or$40 m to supply the name and address of the buyer because at $34 oil for acreage with no production , no one is writing out cheques. We need a significantly higher oil price.
I hope note holders do consider extending as without it we will be in administration on the 1 April with a real chance that we all get nothing.