released today 18 March Not good news, the current directors...

released today 18 March

Not good news, the current directors /management have no plan for the vehicle. This is firmly in the hands of Adminstrators.

The Administrators think there is some value in the assets, so its worth trying to pursue a sale, Could they get more than $30 million for the
worlds largest graphite deposits? (current mkt cap plus creditors claims) Higgo obviously didn't think he could so doubt FH will be able to.


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The purpose of this circular is to advise creditors that it is the intention of the Administrators’ to make an application to the Supreme Court of Western Australia pursuant to Section 439A(6) of the Corporations Act 2001(the Act) to extend the convening period of the second meeting of creditors for a period of up to 60 days.
As foreshadowed at the first meeting of creditors, an extension of the convening period is necessary to:
 Provide sufficient time to conduct a sales campaign;
 Allow interested parties the opportunity to submit offers; and
 Allow the Administrators and their advisors suitable time to review the offers and make a recommendation to creditors prior to the second meeting of creditors.