AYN 0.00% 0.1¢ alcyone resources ltd

Ann: Trading Halt , page-25

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  1. 28,822 Posts.
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    sidr, the shareholders have no say in a voluntary administration. You don't hammer the administrators to do anything. You certainly don't tell him what to do. By then it should be clear whether simply irrigating the pads can provide enough revenue to make the operation cash positive in which case he might continue - otherwise he will close the whole thing down unless a buyer or reconstruction can occur very quickly, because he needs cash to keep operating.

    How can the administrator "pay off debts"? With what? Any money left can be used for working capital if he feels that is in the best interest of the creditors in the sense of keeping it going for the chance of a sale.

    Keep hoping for a big increase in the POS.
 
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