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Michael Fotios is executive chairman of Eastern Goldfields. Photo: Attila Csaszar

Court order to wind-up Eastern Goldfields

The Supreme Court of Western Australia has ordered the winding-up of Michael Fotios’s Eastern Goldfields and the appointment of liquidators, after an application by a local assay laboratory. 

Perth-based Eastern, which just last month hailed its first gold pour at the Davyhurst operation near Kalgoorlie, went into a trading halt this morning following the Supreme Court’s wind-up order.

The winding application was lodged yesterday by Maddington-based Genalysis Laboratory Services, which is owned by global group Intertek.

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Share Price

Closing price for the last 90 trading days
Source: Morningstar

Total Shareholder Return as at 31/10/17

1 year TSR5 year TSR
564thEastern Goldfields-22%-40%
604thStrike Energy-31%-20%
787thXTD-70%-55%
726 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

28/03/17
$249k Bought
03/02/17
$210k Bought
16/01/17
$84k Bought
Total value as at the date of the transaction
Source: Morningstar

Revenue

74th↑Zeta Petroleum$4.1m
75th-Strike Energy$3.7m
76th↑Eastern Goldfields$3.4m
77th↑XTD$3.4m
78th↑Citation Resources$3.2m
491 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from Eastern Goldfields

60thMichael Fotios$954k
171stCraig Readhead$254k
491stAlan Still$254k
Ranked by total remuneration from all listed WA companies

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