The corporate watchdog has launched civil legal action against under-administration gold play Wiluna Mining and its former chairman over “misleading claims to investors” on its last-ditch capital raise.
Administrators for Wiluna Mining will investigate details of a last-ditch capital raising that collected less than the company reported to the ASX in the weeks before its collapse.
The administrators of Gascoyne Resources have recommended creditors support the planned deed of company arrangement for the gold miner rather than an 11th hour alternative from China's Hanking Gold Mining.
The administrators of Gascoyne Resources have recommended creditors support a deed of company arrangement (DOCA) that includes a capital raising targeting up to $80 million and a potential full return to unsecured creditors.
Two Perth-based gold miners have run into trouble, with Troy Resources striking problems at its mine and Kingsrose Mining falling into voluntary administration.
Carna Group has been placed into administration after revealing it is fighting the owners of the Griffin coal mine for payment for work done prior to walking off the Collie mine last year.
Pluton Resources is in the midst of a battle between creditors, with major shareholder General Nice Resources and secured creditor Rizhao Port Group Logistics fighting over who gets to appoint receivers to the iron ore miner.
Mine site water infrastructure group GFR has become the sixth Perth-based company to call in administrators in as many weeks, citing deteriorating trading conditions and significant contract delays.
