This is the best option out of the two options. With this option, there is a greater chance that at least $25M (or greater) will eventually become available for shareholders after the board challenges the ATO of the outstanding amount. Not certain of course but a higher chance than what the liquidators would achieve.
The directors will then offer shareholders the following choices.
1. Distribution of the remaining funds to shareholders and wind up the company.
2. Leave the Alita shell company as an explorer with a new project vendered with sufficient funds for a first round of drilling.
3. A combination of both choices above.
A40 Price at posting:
8.2¢ Sentiment: None Disclosure: Held
