With a successful NO vote, the board and Hartree are unlikely to...

With a successful NO vote, the board and Hartree are unlikely to put us into VA, the board would lose their jobs and Hartree would lose control.

I reckon Hartree will have to come back with a better deal that doesn't include those squillions of free shares and control of the company.

It's like we've been in VA for over 2 years anyway, unable to trade out and faced with losing a lot of money. So I'm not scared of it.

Actually VA would provide a neat solution:

- The mine is likely to continue running, if it is cashflow positive as the chairman says
- Debt repayments to Hartree can be suspended, for as long as it takes, so incoming cash can be spent on the operation
- Administrators can choose not to perform the offtake agreement, can sell it elsewhere and use revenue to strengthen the operation and then repay Hartree
- We'd get rid of the current board that has taken us from disaster to disaster and is now hopelessly owned by Hartree.
-Administrators may pursue other deals, like the merger proposal we heard about. A merger with a listed company means shareholders could trade out or stay as part of a larger successful company
- Given the solid NPV and company valuation in the IER, and cashflow positive mine, the administrators should be able to arrange a recapitalization and repayment of the debt, with relisting of the company in due course, say <12 months.

Hartree won't have control, our shares will be worth something.