Monarch Gold Mining's administrators were granted more time at a...

Monarch Gold Mining's administrators were granted more time at a creditors' meeting to investigate the company's position and talk to possible buyers of assets. Creditors of the Western Australian company, which include Territory Resources, India Resources and Michael Kiernan, have approved an interim deed of company arrangement. The final report from administrator Pitcher Partners is now expected by the end of 2008. A decision will be made by this time as to whether Monarch should be recapitalised or liquidated

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26/08/2008