I think they knew chatree was finished personally and with the...

I think they knew chatree was finished personally and with the money oweing the banks were calling the debt in. The following states KCN has over 70 million in debt.

http://www.**promotion blocked**.au/2016/05/13/is-this-the-end-of-kingsgate-consolidated-limited/

They would of been told to stop all spending hence the closure of challenger. They couldn't push more exploration into the area that cost money. Their only option was to sell it or rehabilitate the mine themselves. That was not a viable option for them. Either way their loss is WPG's gain right?

I think WPG is now the best value gold miner on the ASX based off its market cap, % ownership of the mine and potential future production.