bit of a noob question about administration, page-12

First there's a $10m bill to pay urgently to settle a costly dispute that management had not bothered to mention in any recent releases.

All cash suddenly gone on this and other pressing bills.

Now Smokey shut and another $10m bill to pay to put it on c&m.

The other assets may not be worth as much as they look because they are subject to earn-ins and PGM market in SA troubled and depressed. Not a seller's market.

The administrator gets paid then other creditors including management terminations and long service leave.

Hard to see how there will be anything left over for shareholders from this debacle.