Surprise Ann on WKT going into Receivership and Voluntary Administration.
I suspect this is more likely a dispute between the secured creditor (Gemcorp) and the company, as opposed to any underlying issues with the graphite project. The fact that Gemcorp have thrown in another $10M for the Receiver to use in order to continue operations seems to support this.
Gemcorp appoints Receiver and Manager to protect their position. Directors appoint Voluntary Administrator to protect everyone else's position.
Hopefully there's a positive result somewhere in amongst the mess??
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