The key takeout for me is that the Directors/Administrators have...

The key takeout for me is that the Directors/Administrators have flagged that they have no control or visibility on the assets.

The Accounts also re-iterate a number of times that the DOCA is conditional upon (amongst other things) the ASX satisfying itself that the company has true title and ownership of the assets, being the plant and the mining titles.

Given the amount of debt that our old mate AP loaded up against the assets (both secured and unsecured) and their geographic location, these comments cause me no small amount of concern.

Best of luck to all - Im fearful however that the residual value of the company may be nothing more than its shell value.....