KordaMentha appointed to Mirabela

Troubled miner Mirabela Nickel has been placed in receivership after the directors put it into administration last month.

In a brief statement today, Mirabela said Martin Madden, Scott Langdon and Richard Tucker of KordaMentha had been appointed as receivers and managers pursuant to a security interest registered on the Personal Property Securities register.

No further details were provided.

In late September, the company appointed representatives of Ferrier Hodgson as administrators; a move flagged a month earlier when Mirabela suspended trading in its shares, citing the impact of a ‘precipitous and severe decline’ in nickel prices.

The Brazil-focused miner was previously placed into administration in February last year, with partners from KordaMentha appointed.

Mirabela directors regained control four months later, after implementing a deed of company arrangement which included a capital raising and a debt-for-equity swap that left pre-existing shareholders with a small stake in the company.