Not all is lost. There are assets there that are of value. The administrators will calculate a valuaton for them. They will also work in contact with the old management (who can give advice and support the admins)
The Admins will not take risks with the business, thats not what they do. However they will work to even get the business operating again if at all possible. That includes assessing any forthcoming offers that may eventuate in regards buying an operating and producing mining company.
The other thing is GXY may come in and offer a low ball scrip for the whole operation, and you guys will end up holding GXY shares instead. Wouldnt be a bad thing as your neighbour shares have held up well in the recent few days, so it allows them more confidence in going down this path.
A40 Price at posting:
8.2¢ Sentiment: None Disclosure: Not Held
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