The Dalgaranga operation. Image: Gascoyne Resources.
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Gascoyne Resources administrators have decided to continue operating the Dalgaranga gold mine in Western Australia during its administration process.
The administrators aim to maximise the chances of Gascoyne continuing its existence, which is considered a better outcome than immediate liquidation for creditors.
Gascoyne administrators, who are senior managing directors of FTI Consulting, are optimistic about the gold operations, with the support of employees, banking lenders, NRW Holdings and suppliers.
They expect to continue Gascoynes operations on a break even or better basis, considering the voluntary administration suspension, their ability to sell gold at the current high…
Read the full article at: https://www.australianmining.com.au/news/gascoyne-resources-to-continue-operating-during-administration/