Abra Mining goes into administration
Richard Tucker and Robert Hutson of KordaMentha Restructuring have been appointed as voluntary administrators of Abra Mining, which owns and operates a lead and silver mine in the Gascoyne region of Western Australia.
The appointment of administrators follows efforts by the company and its stakeholders to recapitalise the business.
The Abra mine remains in operation, while the administrators will seek offers to recapitalise or acquire the company or its assets.
Abra has a resource of 33.4-million tonnes at an average lead grade of 7.1% and 17 g/t of contained silver.
“The Abra mine is a world class asset with an initial mine life of more than 13 years, as well as considerable exploration potential with copper/gold mineralisation below the lead/silver deposit,” said Tucker.
“We intend to continue to operate the mine during the administration while we seek offers to recapitalise the company through a sale or deed of company arrangement process. We are asking all suppliers and stakeholders to work with our team to ensure value is preserved and a sale or recapitalisation can be completed as quickly as possible for the benefit of all stakeholders.
“This is an excellent asset that will attract considerable interest from local and offshore investors.”
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation