Because Mungana for MUX is like what Admiral Bay was for Kagara....

Because Mungana for MUX is like what Admiral Bay was for Kagara. Too big to handle, finance and resource. Unfortunately, MUX and KZL are linked. KZL being in admin might as well be half of MUX & MOO too, therefore if you get half or a quarter of your asset value you doing well. There are other factors to consider such as immediate debt repayment, savings from legal disputes etc. Unfortunately though to delink these companies and give them all a chance, they each have to take a bit of a hit. In the end, they'll all be independent, cashed up, debt free with a valued resource or two. If MUX accepts the deal they are lightly screwed. If not majorly. As a 2/3 holder, KZL should be able to vote for what it wants. I would expect an independent expert to concur with the boards of both companies. You'll have to ask the MUX board why they think the deal is good for them. Ultimately, they are not being as open as they need to be or are not as confident as the marketing purports to develop Mungana-Red Dome etc on their own.