Mercator Gold
Mercator Gold Australia creditors approve administrative procedure
Mercator Gold PLC said a creditors’ meeting on November 13 has confirmed the appointment of administrators for Mercator Gold Australia Pty Ltd (MGA) and an exclusivity period for Tulla Resources Group Pty Ltd to potentially agree refinancing of the business.
Creditors approved the Deed of Company Arrangement (DOCA) for the unit that entered voluntary administration on October 9.
MGA will be under the control of the deed administrator for a period of six months, pending the DOCA provides for a moratorium with creditors and allows for MGA to seek refinancing with Tulla Resources. Tulla is currently engaged in its due diligence of MGA. The exclusivity period will end on Dec 31 2008.
Other Mercator Gold articles
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02/04/08 Mercator Gold keeps working away in Australia
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30/08/07 Mercator Gold is Almost an Aussie mid-tier gold producer.
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21/02/07 Micro Focus takes a beating
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22/01/07 Mobile Credit Baltic joins AIM
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04/11/06 Mercator Gold is Re-establishing Meekatharra Gold District
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04/04/06 Mercator Gold Could be a mid tier gold producer soon
Other Mercator Gold news
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13/10/08 Mercator Gold enters administration while it seeks refinancing
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17/07/08 Mercator Gold announces maiden resources for Euro and Batavia projects
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09/07/08 Mercator successfully raises £4m to increase gold production
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15/05/08 Mercator's exploration results exceeding expectations
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02/05/08 Mercator Gold production up 37.5%
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25/04/08 Mercator completes sale of non-core assets
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17/04/08 Mercator Gold in takeover talks
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31/03/08 Mercator posts inline interim results
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11/03/08 Majedie ups interest in Mercator Gold
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26/02/08 Mercator releases gold production guidance
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