Ann: Strong gold results at Hillgrove's Eleanora-Garabaldi, page-8

Hi @HIO

Yes currently only affecting Thalanga. RVR is a creditor and a guarantor as the parent company. See below from Rvr announcement.

“The largest secured creditors of Cromarty Resources Pty Ltd are Red River Resources Limited and Trafigura Pte Ltd (Trafigura). Red River has provided a guarantee to Trafigura in relation to the working capital facility agreement between Cromarty and Trafigura.”

So Rvr are liable if there isn’t enough money from Cromarty to pay Trafigura. Hopefully there is enough money to settle all Thalanga debts and this doesn’t cause a domino effect to the rest of the business.

It maybe a drawn out process thou given a sale of Thalanga assets may take some time to eventuate … and time leads to further costs and expenses. There is also rehabilitation liabilities potentially.

In time and with progress by the administrators understanding the full extent of the claims and costs we will get some idea. I think the trading will be suspended for an extended period of time.

It’s a complicated and difficult situation. Best of luck.