I think you have misunderstand this, the VA were appointed...

I think you have misunderstand this, the VA were appointed liquidators around June 2016 when the PoN was around $4.5US/lb, then at the start of 2017 when PoN hinted of a recovery with it reaching $5US/lb+ (and of a possible mine restart), it then dropped to $4US/lb again around June 2017 and at that time, the liquidator indicated they couldn't see any return to the unsecure creditors (i.e. the share holders which are us and the majority share holders/major secure creditors) as they couldn't see the mine being sold for more than $220M USD given PoN has been virtually $4-4.5US/lb for 2 years.
Hence, they gave their opinion which allow the share holders to use this letter to claim tax loss instead of paying the $50 fee but they did it with disclaimers to seek financial advice.......and the mine has continue in C&M and hasn't been sold for another 8 months since then.