via Investopedia - Letter Of Intent

A stay of proceedings is exactly that, meaning a prolonged period of halted trading in the stock, and no actions taken on any sort of seizures of assets.

The assets the company refer to as being sold are ounces in the ground. They are probably going to come up with a renewed agreement to continue supplying Sprott and The Mint with gold. That is, if my interpretation of the balance sheet is correct.

Remember all of the ounces supplying both physical ETFs were paid for with a 50% discount, meaning they have substantial amounts of cash with which to resupply bullion.

That would mean a long-term supply agreement to be submitted by June 27.

The rest of the news release is legal gobbledygook.

http://www.investopedia.com/terms/l/letterofintent.asp

-F6