what is in the future for rng, page-16

L4G,
You are probably correct in your prognostication, things are usually worse than expected when the outsiders get a look at the books(by the way, its administrators not receivers).
However, if (and its probably a big if) the switch to underground mining can result in 8-10,000 oz at a cash cost of $800 an oz., that would be a cash flow before overheads of around $20 million p.a. That would give it a project value which should more than cover borrowings and leave some value for shareholders. The directors indicated some six years of resources.
Its easy to be critical of the management but it does appear that they were affected by some issues outside of their control. Let's hope they were lousy negotiators when it came to getting a financial rescue package together and the administrator can come up with something.
Pargolf