The lenders have first ranking charges against the assets of...

The lenders have first ranking charges against the assets of Discovery Copper Botswana Proprietary Ltd (Note 13.2 from 2014 Annual Report), which are presumably the mill and mine, and “first ranking security over shares held in other group companies”

The group companies controlled by DML, From the last Annual report (Note 31), are:
- Discovery Copper Mauritius Ltd
- Discovery Metals Mauritius Ltd
- Discovery Mines Mauritius Ltd
- Discovery North East Mauritius Ltd
- Discovery Copper Botswana Proprietary Ltd (DCB)
- Discovery Metals Botswana Proprietary Ltd
- Discovery Mines Proprietary Ltd
- Discovery North East Proprietary Ltd

I'm no expert on company law, but my understanding of these terms is that the lender's are first in line in getting their liabilities settled from DCB, ahead of any employees, contractors or suppliers.

I'm not clear what the implications are of having first ranking security over shares held in other group companies.