Source: delisted.com.au
the Western Metals shareholders who did not sell their shares to us as part of our "Worthless Shares" program will now be aware that they have a holding in the company that has been consolidated on the basis of 1 share for every 100 they held previously and that those shares are now reinstated to quotation and as of today are trading at around 2.3 cents each (so if you previously held 10,000 shares, you now have 100 shares and they are worth in total about $2.30, if you previously had 100,000 shares, you now have 1000 shares and they are worth about $23 in total) - you can sell your holding here Sell your small shareholding for a small fee if you are seeking to crystallise a capital loss for tax purposes 20/12/2005
shares reinstated to quotation 15/12/2005
company lodges its prospectus with ASIC and ASX 21/11/2005
subject to shareholder approval, the board will proceed with the consolidation of capital on a 1 for 100 basis 18/11/2005
the company is released from external administration 18/11/2005
provides notice of a General Meeting to be held on Friday, 18 November 2005 at 9.00am at Ferrier Hodgson, Level 26, BankWest Tower 108 St George's Terrace, Perth - this is to consider a recapitalisation proposal involving among other things a share consolidation (1 for 100), the issue of 120,000,000 Shares at an issue price of 0.25 cents per Share (post consolidation), to raise $300,000 for working capital, the issue of a total of 30,000,000 unlisted Options, the issue of a further 135,000,000 Shares at an issue price of 1 cent per Share (post consolidation) to raise $1,350,000 for working capital - If the resolutions are passed the Company will seek the reinstatement of the quotation of its securities on ASX - Ascent Capital has provided the funding to meet the costs associated with this Notice of Meeting and will arrange $550,000 in additional loan funds - it advises that it intends the Company to continue with its mineral exploration business through its 60% joint venture interest in the Zeehan Tin Deposit and its interest in the Royalty Deed with Hamill Resources Limited (the Northcote Royalty) and to pursue complementary acquisitions. It also intends to review new investment opportunities 17/10/2005
Administrators replace the following directors and company secretary: David Benham Ian Gould Geoffrey Wedlock David Fowler (secretary) with the following directors and secretary: David Christian Steinepreis Hugh David Warner Gary Christian Steinepreis (director and secretary) 03/10/2005
receivers complete their tasks and retire 12/08/2005
receivers confirm they are about to complete their tasks and will retire probably in the next month 27/07/2005
administrators believe the receivers will retire shortly 26/07/2005
administrators advise they are still waiting for the receivers and they can't provide any timeframe for their completion - the receivers have realised the major assets of the Group and continue to act in realising minor assets and finalising their administrative and statutory obligations 07/02/2005
Terramin agrees to purchase the minority 40 percent interest in the Fleurieu and Menninnie Dam joint venture held by Western Metals Ltd 15/12/2004
ASIC grants relief to the company in respect of financial reporting requirements 24/09/2004
administrators report that they are still waiting to hear from the receivers 17/08/2004
administrators advise that the receivers are yet to finalise their outstanding matters 09/07/2004
administrators are still trying to progress a Deed of Company Arrangement and believe another month is needed 28/05/2004
receivers have indicated there will be no return to shareholders but shareholders are unable as yet to claim any capital loss as a liquidator has not been appointed nor a liquidator's declaration made 28/05/2004
administrators advise that a re-structure and re-listing of Western Metals Ltd on ASX has been proposed and is subject to shareholder approval - this can only be accomplished following the retirement of the Receivers - "either way it should be resolved by 30 June 2004" 23/03/2004
ASIC grants WMT relief from preparing Half Year Reports 19/03/2004
receiver announces sale of the group's shareholding in Niwest Limited for $2.7 million to Minara Resources Limited - the sale brings total divestments to about $51 million - there will be no return to unsecured creditors or to shareholders 16/01/2004
receiver announces the sale of the Hellyer Metals Project (a tailings prospect in Tasmania) to a consortium controlled by Intec Limited, Ivanhoe Mines Limited Group and Ammtec Limited 16/12/2003
creditors, secured and unsecured, resolve to approve the execution of a deed of company arrangement with Ascent Capital to recapitalise the Company (this was subsequently executed on 24 December 2003) 12/12/2003
receiver announces that the assets of the Lennard Shelf mining operations have been sold to Teck Cominco Ltd (a Canadian company) for $26m 14/10/2003
receivers advise they are currently working towards concluding a sale of the Lennard Shelf operations, and, following this, the sale of the Hellyer assets 08/10/2003
Mt Gordon operations were sold by the receivers to the Aditya Birla Group 23/09/2003
the company has not paid its annual listing fee - it will be removed from the official list on 1 September 2003 if it does not pay the fee by Friday Aug 29 25/08/2003
reports that receivers are hoping to conclude a speedy sale of the company's base-metals mines in order to recoup about $225m owed to noteholders and hedge counterparties - it is anticipated that the sale process for the company's operations may not be concluded until at least the end of September 2003 25/07/2003
D McEvoy and S Longley of PricewaterhouseCoopers appointed Receivers and Managers by the noteholders - they will effectively be in control of the operations of the company 22/07/2003
company advises it has not been able to conclude a deal to attract new capital and restructure its debt and has appointed M Jones and G Trevor of Ferrier Hodgson as voluntary administrators (in the case of Western Metals Copper Limited, P Geroff) - the board says it remains confident of the group's ongoing prospects 18/07/2003
company advises it has secured additional short term funding from its US Noteholders for working capital purposes, pending formalisation of the debt and equity restructuring presently being negotiated 02/07/2003
the company and Intec Ltd sign a heads of agreement to investigate the technical and economic feasibility of jointly developing Western Metals' 100% owned Hellyer Metals Project 30/06/2003
shares suspended from quotation - the Company expects the signing, within two weeks, of an agreement in principle to a significant debt and equity restructuring of the Company will end the suspension 25/06/2003
company places the Kapok Zinc-Lead Mine, part of the Lennard Shelf Operations, onto Care and Maintenance - this decision was taken in response to the recent strong rise in the $A and continued low prices of zinc and lead, and with a view to improving the company's cashflow 21/05/2003
name changed from Western Metals NL 31/05/1995
WMT
western metals limited
