milesy, true, but if AYN can't make a go of it, then MS end up with a thrice failed mine .... not really good security, in my experience!
It does give them the power to appoint an administrator if AYN default on the terms but AYN would only do that if they couldn't avoid it. All the plant and equipment wouldn't fetch $10m at auction. And I suspect that there is a rule which says that mine rehabilitation costs come before anything else. SBM picked up the whole of SGW's gold operations for $1. (One dollar only). Plus a bank bond for $34m to cover anticipated mine rehab costs.
AYN Price at posting:
0.7¢ Sentiment: None Disclosure: Not Held
