The point that I was trying to make besides the pro-rata share...

The point that I was trying to make besides the pro-rata share of operating mine costs that CNNC didn't pay is that I mentionned to the administrators to discuss with CNNC the possibility of making a cash injection (added to their $90M loan) of say $30M or so which would be offered to 2017 and even 2020 bondholders as partial principal repayment (or interest payment) on the condition that they would push back the bond maturity dates until say 2020 (or later) without diluting the common shareholders. In other words give them some money now and push back the maturity dates. CNNC would perhaps do this as retribution for their dispicable (perhaps illegal) behaviour concerning the botched 24% sale and option fiasco which put us in this mess.
I believe that CNNC determined that letting the option drop would be the best political choice in that they would not be viewed as an exploitative vulture partner for any future deals elsewhere throughout the world.
It was not worth the risk for them to acquire a mine cheaply and destroy a company, but burn their name in the process
That being said, COUH and all their shenanigans as well as not covering their share of pro-rata losses have caused the company great (and perhaps irreparable) harm and should be held liable. They should be sued for material and/or negligent misrepresentation and oppression. (or negotiate an out of court settlement and get them to provide some additional liquidity to appease 2017 bondholders by paying them an interest payment now-see below)
I believe the key now is to, if possible, push the major debts down the road until the uranium market improves. If 2017 bondholder debt could be pushed off two years then perhaps EDF would back off on their request for repayment , since the company would not be insolvent, and stick to their original supply takeoff deal. (i.e. 2017 bonds for $212m pushed off to 2020. 2020 bonds for $150m remain at original 2020 due date. EDF would be provided additional security so the $277m repayment obligation disappears . CNNC loans for $90m don’t have a firm maturity date since the loans can be deferred.
As previously mentioned, they would, however, still have to provide additional security to EDF perhaps temporary security on LHM that would expire if the price of uranium rises over to say $30 or $40/lb . (The reason being that all assets in the company would rise in value as a result reducing risk for EDF)

We must buy time.