monarch not dead

Monarch Gold went into administration on 10 July 2008 owing about $A25 million, after recapitalisation efforts failed. Monarch head Michael Kiernan personally pledged $A15 million towards Monarch's $A25 million plans to raise capital. Junior mining companies were "surprised" about the voluntary administration, as some had spoken hours before to Monarch, which made no suggestions of an inability to meet obligations.

" Monarch administrator Pitcher Partners is optimistic that the gold mining company will be brought out of administration"


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