Tomardo, I think you'll find that under Australian law, the...

Tomardo, I think you'll find that under Australian law, the assets do not fall automatically into the creditors' hands upon administration. Rather, the administrator would have control and look at the best outcome for everyone in the pecking order, with the secured creditors' interest uppermost. They could let the company continue operations or sell the assets, for example. There is then the question of the operating licenses (tol/pol) -would any new owner of lamp have to apply for new licenses or to have them transferred? Then, the mt weld mining leases - would the Australian government grant them to the new owners? Too many ifs, in my opinion. It would appear to be in the best interests of Lynas and the current creditors to do a deal. The question is, how much would Lynas have to give in order for the deal to be more attractive to those with the negotiating upper hand ATM, considering the company's dire predicament and, therefore, how much do existing shareholders stand to lose?