Gleneagle Gold in administration

WEST Perth-based gold miner Gleneagle Gold Ltd has been placed in administration after the company failed to deal with commissioning problems at its Fortnum gold project, which commenced production in July last year. Its slide into administration followed nearly $15 million in capital raisings in the past year, most recently a $6.56 million placement to local investors and clients of Sydney broking firm Ark Equities Pty Ltd.

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