So, have the directors sucked out what they can and now is it up to the "receivers and managers" with exorbitant rates to clean out what is left? Is this a bunch of accountants going over the books. The term 'managers' suggests they will try to get the company moving again. Wow, accountants will be able to run a mine and get the company back on its feet, wont they?
No communication with shareholders, no alternative maintenance plan, no opportunity for current shareholders to support the care and maintenance plan.
What is the next move? Sell the mine to the lowest bidder. It has had a huge injection of capital over the past few years and at the right price the next company can sit on it till PoS increases.
Will the final insult be a bonus to the board for "helping" the receivers.
Time for the shareholders to start a company, buy the mine and sit on it for a while.
AYN Price at posting:
0.1¢ Sentiment: None Disclosure: Held
