Ann: Amendment to Fura Gems Merger of Ruby Assets Agreement, page-21

I am a bit unsure what you mean?
I agree that Fura would be very happy to negotiate this early cash settlement however it has obviously been done at the request of NXE as per the last line of the ann:-
“The board of New Energy would like to thank Fura for renegotiating the terms of the MRAA at the requestof the Company”.
Comments about Arena getting nothing if NXE go into admin is purely conjecture and Arena as a secured creditor would have had claim to whatever assets NXE may have had. Although I don't have the actual loan contracts not hard to imagine this would include remaining ownership of Caula and (perhaps more complicated) either a claim over the Fura share tranches or if that deal unwound the Ruby tenements that could then be sold.
NXE appear to be determined to plough on for a while yet and the only way they could avoid admin was to get some cash asap. I surmise their only other realistic avenue was to tap Mr Ching for some more, which would have seen them end up with sfa to develop.
It is obvious from early anns that NXE believed they owed Arena at least face value plus interest, however that situation conveniently changed when they realised they had little money and needed time. They believe they are now in a position to negotiate a position and move on to the next debacle.
(At least that is basically what they say- see below - and appears logical to me - but to be fair you never know next move with this Company)
"New Energy Minerals Managing Director Bernard Olivier Commented: “The amendment to the Merger of Ruby Assets Agreement and the cash consideration was specifically re-negotiated due to the statutory demand received from Arena Investor and now places New Energy in an advantageous position in the dispute process. It is also particularly important as the Company enters the financing stage of its pilot plant development at the Caula Vanadium-Graphite project”."