Ann: Appointment of Receivers and Managers-KBL.AX, page-13

As expected, a committee of creditors was formed.

It appears that the receiver intends to run the mine with a view to keep operations going, but they were not represented at the meeting.

The administrators ran the meeting and have not yet published any details; maybe they are no longer being paid.

From memory of slides shown at the meeting, the debt to Quintana is down to $23M and the amount owing their offtake partner has dropped from ~$4M to $2M so it looks like cashflow is strong and one assumes the plant is operating well.

Other information I gleaned at the meeting I regard as confidential.

As a group we depend on the goodwill of Quintana. I would prefer to be dealing with them than with KDR / Capri.

Time will tell if they treat us fairly. GTALH