As a creditor, it would be interesting to know where LNY rank for a call on Maroon’s assets (plant) in the event a receiver is called in. If tax is owed - ATO rank first, if Bank/s are owed - they rank next, then perhaps LNY third.
What do Maroon owe LNY...circa $1.6mil?
How on earth did LNY end up out of pocket! LNY had the agreement with the refiner. Presumably LNY had the agreement with buyer (eg Perth mint). Who was the buyer?...were we hedged?...what the hell went on past the mill gate??!!
All ASX announcements remain suspiciously silent on any details past the mill/plant gate.
I can bet London to a brick, no details were forth coming from AGM...but alas the Director remuneration got through...sigh!
Deja vu!...rinse and repeat!
Would appreciate your thoughts doc?
Is LNY in autopilot mode, page-33
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