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Mastatrada

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27/09/24

14:18

Post #: 75873599
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Originally posted by sabine: ↑

Prospector Mark Creasy wins support for Calidus Resources rescue
https://thewest.com.au/business/min...pport-for-calidus-resources-rescue-c-16192409
Matt MckenzieThe West Australian
Fri, 27 September 2024 11:07AM

Calidus Resources pours first gold at its Warrawoona project Credit: Amalie Schreurs/TheWest

Famed prospector Mark Creasy has won his bid to revive collapsed gold miner Calidus Resources.
Creditors on Friday backed the proposal by Mr Creasy’s West Coast Lending to pull the miner’s six business units out of administration.
Sydney’s Petra Capital had made a late charge to raise at least $170 million in support of an alternative move by Calidus’s former directors.

The West Australian understands the board of Calidus withdrew their support for that proposal late on Thursday.
Mr Creasy dealt himself into Calidus in late July when he picked up debt from key lender Macquarie Bank.
Calidus hit the wall in late June and the company’s Warrawoona mine in the Pilbara has been on partial care and maintenance since.

West Coast plans to get the mine back into full operations within months.
That business is ultimately controlled by Mr Creasy’s Yandal Investments, which held assets of more than $1.3 billion at the end of June 2023.

FTI Consulting’s Hayden White and Daniel Woodhouse had been Calidus’ administrators while KordaMentha’s John Bumbak and Richard Tucker were receivers.

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Love the heading, maybe I'll go rob a bank and tell the police, "I didn't steal that money, i just rescued it"

CAI Price at posting: 11.5¢ Sentiment: None Disclosure: Held
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