bit of a noob question about administration, page-21

I'm not so sure. I still do hold out some hope as while a lot of foolish $ went into PLA for Smokey Hills, they were often via placements at higher share prices, with the slide in value of the shares eventually reflecting the fact that most shareholders had already written off Smokey Hills as a dead duck. I certainly had. I suggested moving the processing plant to the Panton Project in Australia, where the project was open cut and the locals were friendly. But in reality PLA are now faced with mine closure costs that hopefully should be offset by the sale of one of their other large projects (Kalplats or Rooderand) leaving the company to lick its wounds and slowly progress the development of an open cut approach to whichever asset it retains. Both their current projects do have some significant value (not withstanding the ongoing legal challenge over Rooderand) judging by their advanced state and their "proven" feasibility. That is feasibility in economic terms, not necessarily in terms of a qualified and willing workforce. At this stage it is pretty critical that work on the Rooderand feasibility study continues within PLA and that the report is/was completed in the June QTR as mentioned in the last Qtr report. That report would add significant value, and its acceptance by the JV partner would significantly add to PLA's degree of ownership, elevating PLA to majority owner. I'm, fairly certain either of these two projects are attractive enough to sell for a price sufficient to cover debts, and still leave us with a share price somewhere between 10-20c, but the bigger question is, given PLA's track record in successful mining and workforce management (not!),will any more punters be keen to back the development of a new mine?