The future of Central Queensland mining company Baralaba Coal is in limbo once again after the company went into voluntary administration this week.
In a statement to the Australian Stock Exchange on Wednesday, the company announced it was appointing administrators from advisory firm McGrathNicol, effective immediately.
McGrathNicol said the administrators were “undertaking an urgent assessment of the company and would work closely with stakeholders “to quickly stabilise operations and to determine the appropriate strategy for the business.
The move followed an unsuccessful attempt to raise $77 million with a share entitlement offer.
It’s the second time the company, formerly known as Cockatoo Coal, has gone into administration in two ye…
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