- End July: DMM goes into technical default on its Vertex loan
- August: Vertex gives them a few days' worth of leeway, no money forthcoming, Vertex calls in the loan, DMM goes into default, shares halted, receivers called in.
- September: Receivers sell Jerusalem to Ian Telfer, pay debts owed to employees and suppliers.
- Also September: Eric Sprott reaches a deal with Vertex, takes some of the debt. Company recapitalized via debt-for-shares deal that dilutes current shareholders to kingdom come. Vertex and Eric become main shareholders.
- 2017: Dynasty name change to Studmuffin Mining Inc, Zaruma re-started.
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It's going to be kind of difficult to get this exactly right as there are plenty of possible variations possible to this them, but we can sketch out a rough roadmap:
But many variables possible, of course. Not least the timing or the name of the new company. Maybe they just go for Elipe Gold or something. But however it pans out, you don't want to be holding DMM equities when the process starts next month.