https://www.miningweekly.com
Exploration|Gold|Mining
Exploration|Gold|Mining
exploration|gold|mining

AuStar rethinking Centennial plans

17th May 2019

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Junior AuStar Gold has paused its takeover plans for embattled Centennial Mining, following discussions with that company’s administrators.

AuStar in May revealed its intentions to make a takeover offer for Centennial, which holds the A1 gold mine, after Centennial’s administrators revealed that they had received a number of unsolicited approaches from existing creditors.

AuStar owns the Rose of Denmark and Morning Star mines as well as having exploration assets around Centennial’s A1 mine, and has previously spouted the virtues of consolidation in the region.

However, the junior miner on Friday said that after conducting due diligence investigations, the board of AuStar had determined, based on the current available information, not to submit a deed of company arrangement to Centennial’s creditors prior to the creditor meeting, which is scheduled for May 17.

Edited by Creamer Media Reporter

Comments

Showroom

Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 
Werner South Africa Pumps & Equipment (PTY) LTD
Werner South Africa Pumps & Equipment (PTY) LTD

For over 30 years, Werner South Africa Pumps & Equipment (PTY) LTD has been designing, manufacturing, supplying and maintaining specialist...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Hyphen, Eva mine, ferrochrome price make headlines
Hyphen, Eva mine, ferrochrome price make headlines
27th March 2024
Resources Watch
Resources Watch
27th March 2024

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?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.069 0.101s - 108pq - 2rq
Subscribe Now