https://www.miningweekly.com
Africa|Gold|Mining
Africa|Gold|Mining
africa|gold|mining

Elliott-funded Avocet Mining goes into administration

22nd August 2019

By: Reuters

  

Font size: - +

Gold miner Avocet Mining on Wednesday appointed Paul Williams and Geoffrey Bouchier from Duff & Phelps as joint administrators, as it started its insolvency process.

The appointments, effective August 21, come a few months after the struggling gold miner said its board proposed voluntary liquidation of the company as it faced mounting debt.

Last week, the West Africa-focussed miner said it would pursue a formal insolvency process by appointing administrators to the company, but also remained open to exploring "viable funded investment opportunities".

However, no investment proposals were received, said the miner, which has been relying on loans from hedge fund Elliott Management Corp.

Edited by Reuters

Comments

Showroom

Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 
Environmental Assurance (Pty) Ltd.
Environmental Assurance (Pty) Ltd.

ENVASS is a customer and solutions-driven environmental consultancy with established divisions, serviced by highly qualified and experienced...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (12/04/2024)
12th April 2024 By: Martin Creamer

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.115 0.147s - 89pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: