The administrator will likely keep the mine running, while...

The administrator will likely keep the mine running, while meeting with nthe creditors to sort out some kind of deal.

The Administrator will probably be looking around the peer group of miners for someone with some cash who wants to get the assets - OZ Minerals would be a pretty good bet, as well as of course Glencore/Xstrata, etc.

I suspect the company would not have opted for one option - a massive cheap caital raising to raise money, as it would be too dilutive.