"- The noteholders will still need the shares in MBN to give the perception to the Brazilian government that there is no change of control so they can keep the license."
I don't think so. MBN don't hold the license, Mirabela Mineracao do Brasil Ltda hold the license. MMB is owned 100% by MBN, and doesn't appear to be in administration. FH were only appointed as administrators to MBN and Mirabela Investments P/L. Not MMB. So the administrator could sell MMB to someone else as a single entity, mine, license etc. (if it hasn't been placed in Admin in Brazil) so long as all the cross guarantees which would make MMB insolvent are cancelled.
MBN Price at posting:
8.3¢ Sentiment: None Disclosure: Not Held
