https://www.miningweekly.com
Flow|Gold|Resources|Flow
Flow|Gold|Resources|Flow
flow-company|gold|resources|flow-industry-term

Gascoyne creditors approve DOCA

26th June 2020

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – The creditors of ASX-listed Gascoyne Resources have approved a deed of company arrangement (DOCA) as part of a broader recapitalisation and relisting plan for the gold miner.

The DOCA and associated recapitalization and relisting plan was formulated with the objective of Gascoyne continuing to operate under its current group structure, with the DOCA intended to allow all unsecured creditors to receive up to 100c on the dollar in respect of their pre-appointment claims.

The administrators had recommended the DOCA after a significant operational turnaround achieved at Gascoyne over the past 12 months, which has seen the miner reach its fifth consecutive month of more than 6 000 oz of gold produced, showing higher grades at the Dalgaranga mine, in Western Australia.

The administrators previously said that the increased gold recovery was made possible by the decision to reinvest some A$10-million of cash flow into an accelerated cut-back of the Western Wall of the main Gilbey’s pit, starting in October last year.

The administrators on Friday said that the company would now proceed to enter into the DOCA and would issue the necessary documents in the coming weeks.

Edited by Creamer Media Reporter

Comments

Showroom

SAIMC (Society for Automation, Instrumentation, Mechatronics and Control)
SAIMC (Society for Automation, Instrumentation, Mechatronics and Control)

Education: Consulting with member companies to obtain the optimal benefits from their B-BBEE spending, skills resources as well as B-BBEE points

VISIT SHOWROOM 
Actom image
Actom

Your one-stop global energy-solution partner

VISIT SHOWROOM 

Latest Multimedia

sponsored by

PGMs and green hydrogen make headlines
PGMs and green hydrogen make headlines
19th April 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:0.054 0.093s - 92pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: