Administrators appointed for troubled Elmore

19th February 2024

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online


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Restructuring pundit KordaMentha said on Monday that it had been appointed as receivers and managers of each of the companies that fall under the Elmore umbrella.

Elmore is an ASX-listed contract mineral processing company, which also owns the Peko magnetite mine in the Northern Territory.

Elmore was placed into voluntary administration earlier this month after its directors resolved that group was “insolvent or likely to become insolvent at some future time”.

Last week, Richard Tucker and John Bumbak of KordaMentha were appointed as receivers and managers of Peko Iron Project, Peko Gold Lending, Sitzler Savage, ICA Mining, Peko Bull and Peko Rehabilitation Project.

KordaMentha said that it would start a process to market Elmore and its assets for sale and recapitalisation opportunities in the coming weeks.


Edited by Creamer Media Reporter


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