So here is how those toll treat or profit share contracts generally work but totally upto agreed details.
The owner of the mine get paid after the process plant ships the fire to a refiner and gets paid by the refiner.
There is generally zero security included as the mine needs the plant generally more than vice versa.
So LNY probably are unsecured and don’t get paid until after Maroon get paid.
Having personally done these agreements I would be astounded if LNY are secured.
And if Maroon ran out of cash for the final payment then they would have got paid by the refiner but not passed on LNYs share.
Simple, so LNY stand inline with any other unsecured creditors I imagine plus there will be secured creditors aka the IS hedge fund that loaned Marion their original $$
LNY Price at posting:
0.6¢ Sentiment: Buy Disclosure: Not Held
(20min delay)