Unless MCO can find a backer, it will have to be voluntary administration. The board can not trade whilst insolvent and they only have $13,000 in the kitty.
They only have 6 days to pay the listing fees or the company will be de listed.
It is 11 weeks since the voluntary suspension. The board has had 11 weeks to find a backer, but no news. Either the board has no news- which means they have had no success in raising money- or they are keeping everyone in the dark. Neither is good.
Unfortunately it looks like another Victorian gold casualty. There have been many- Ballarat, Bendigo and Castlemaine are 3 which come to m ind that seemed to offer much but it just did not work out. Even Lihir were fooled.
AAS
AED
AKW
ARJ
BHG
BIC
CFY
CNC
CNH
CNR
CPK
CPN
EIM
FGF
GIA
GRP
HWE
HZL
ION
IPA
MAE
MCO
MYA
NER
BGC
NLG
ONL
PTN
QMG
RLG
SNR
SRA
STI
OAR
LGR
VGP
VIP
ZHE
Ann: ASX Market Release - Suspension , page-4
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