As this thread is getting bogged down with hypothetical...

As this thread is getting bogged down with hypothetical mediations with unknown contractors and imaginary vultures circling Kanmantoo, the only way to satisfy myself of the current state of play was to talk to Drew. Without divulging all details the salient points of the conversation were:
1.As late as yesterday afternoon a resolution to the contractor claim was being finalised.
2.A solution to the short term cash flow will be announced to shareholders next week.
3.Talk of a takeover is according to Drew a non-issue, companies that in good times would find HGO attractive all have their own problems. I mentioned OZL, he was of the opinion we are way too small to be a serious M&A target for OZL. He has 2 years to run on his contract, the shares he has purchased like the rest of us are underwater and he is going to have to work his ring off if he is going to achieve his performance rights target.Didn't sound to me like a man with the for-sale out.
4.On the topic of resource up-grades his mood was much more bouyant and he feels shareholders will be pleased with future reports.

In summary, things ain't perfect but I'm satisfied that Drew will navigate us through the current difficulties.