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Eastern Goldfields has announced that it maygo into voluntary administration followingthe collapse ofa $75 million recapitalisation.
The goldminer has proposed to adjourn its November 30 annual general meeting (AGM) until the end of January next year to allow its shareholders to consider the companys financial statements.
The AGM was initially scheduled to approve resolutions that would initiate the $75 million recapitalisation,whichEastern Goldfields declared wouldno longer proceed now.
Eastern Goldfields said in an ASX statement that itwas evaluating a number of alternative transactions, including voluntary administration, however these [transactions] are not yet at a stage where the company is in a position …
Read the full article at: https://www.australianmining.com.au/news/eastern-goldfields-signals-voluntary-administration/