If GSLM is wound up the exploration licence would likely be held by the Liquidator as an asset for disposal for the benefit of the creditors. He would presumably offer it for sale and MRT would probably have no objection to it being transferred to a new licencee under its existing terms. It is unlikely proof of exploration funds would be required by MRT in view of GSLM not having been able to show evidence of funding when the EL was granted earlier this year, also with the short term the licence has to run.
Whether a buyer could be found for the EL must be considered problematic.
There is no reason for the Mercury to retract its report as being a hoax (as has been suggested it will be). The story was genuine.
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