Monarch Gold Mining creditors will vote today on a recapitalisation plan that will see Michael Kiernan take control of the Kalgoorlie gold miner nearly a year after it collapsed. The plan has already won the backing of India Resources, which said last night it stood to make a 100 per cent return from a deal that would see it receive $1.61 million worth of shares and $2.4 million cash over the next 12 months. Monarch collapsed last year after a fallout with major creditor Territory Resources.
MON Price at posting:
29.5¢ Sentiment: Hold Disclosure: Held
