Quintana will make the most money if they keep Mineral Hill operating. Originally they would have got their investment back in about 5 years.
Their appointed receivers have control over how the creditors are paid out. I would hope they keep control until the employees and trade creditors are paid out. This was expected to be early next year and the figures from the creditors meeting suggest cashflow is strong.
The administrators would have concentrated on getting a cash investment in the company to refinance it. This would have meant further dilution.
What the receiver does is his business. However running the mine and paying creditors from cashflow is an option. The creditors committee should be involved in determining what is done.
KBL Price at posting:
0.1¢ Sentiment: Hold Disclosure: Held
