PERTH (miningweekly.com) – The administrators of embattled WPG Resources have adjourned a second meeting of the company’s creditors to consider two additional takeover offers.
WPG went into administration in 2018 following a default on a A$20-million debt facility.
The administrators are expected to write to the creditors of WPG Resources to reconvene the meeting within 45 business days, with the administrators pointing out that creditors of WPG and its subsidiaries had previously resolved to place each of the company’s subsidiaries into liquidation at the second meeting.
WPG holds the Challenger and Tarcoola gold mines, in South Australia, through three wholly-owned subsidiaries: Challenger Gold Operations, Tarcoola Gold and Tunkillia Gold.