More sector news : Potential voluntary administration at Eastern...

More sector news :
Potential voluntary administration at  Eastern Goldfields  with its troubles impacting GNG  - GR Engineering  which is owed more than $9 million.
GNG is potentially secure, however, as it just win a $366 million contract at Thunderbird Moneral Sands https://www.australianmining.com.au/news/sheffield-resources-awards-366m-contract-to-gr-engineering/


https://thewest.com.au/business/min...stern-goldfields-on-cliff-edge-ng-b881034395z
Collapse of $75m recapitalisation puts Eastern Goldfields on cliff edge
Josh ChiatThe West Australian
Wednesday, 28 November 2018 9:43AM
Eastern Goldfields boarded up its Davyhurst gold mine and was suspended from trade in a bid to raise new capital.
WA gold miner Eastern Goldfields is again teetering on the brink of collapse after a proposed $75 million plan to recapitalise and rebrand the company fell through.
It advised long-suffering shareholders and creditors of the proposal’s failure this morning in a statement to the Australian Securities Exchange and flagged plans to defer its annual general meeting, due to be held on Friday.
“The company advises that the recapitalisation transaction will no longer proceed,” the statement said.
“The company is currently evaluating a number of alternative transactions, which may include voluntary administration, however these are not yet at a stage where the company is in a position to make an announcement.”
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Previously : (August 16, 2018)
https://thewest.com.au/business/min...-eastern-goldfields-be-wound-up-ng-b88569583z
Fotios to fight court’s Eastern Goldfields wind-up order
Stuart McKinnonThe West Australian
..........
......“Separately, the gold company is facing legal action from contractor GR Engineering over an alleged unpaid debt of $9.9 million for refurbishment work at the Davyhurst processing plant near Menzies.”https://thewest.com.au/business/min...-eastern-goldfields-be-wound-up-ng-b88569583z