https://www.miningweekly.com

Navigator appoints administrator

2nd April 2013

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – Embattled Navigator Resources has appointed an administrator to undertake an immediate assessment of the company and to determine the options available to restructure and consolidate its position.

The administrator would also undertake an urgent review of the struggling Bronzewing operation, with a view of placing the project on care and maintenance to minimise any further losses.

Navigator had been on the hunt working capital funds, after the Bronzewing project failed to deliver on its production forecasts at the end of December.

The company had prevously reviewed its mine plan at Bronzewing, changing the pit sequencing, strip ratios and configuration of the heavy mining equipment fleet in an effort to increase production and optimise operations.

The administrators said that they would assess the company’s gold mining projects to determine the best strategy for realising the maximum value from them for the benefit of shareholders.

Shareholders were asked to refrain from contacting the administrators, and were told that more information would be made available as the process continued.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Sika South Africa
Sika South Africa

Sika South Africa is a trusted partner for the nation’s infrastructure, commercial, residential, and industrial sectors.

VISIT SHOWROOM 
ECG Engineering
ECG Engineering

ECG provides specialised electrical engineering services to the Mining, Utilities, Materials Handling and Industrial industries, with extensive and...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

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:0.043 0.835s - 111pq - 2rq
Subscribe Now