There is hope for down trodden, ex MK companies . the following...

There is hope for down trodden, ex MK companies . the following is an extract from a success story .

"He said the company was striving to extend the life of the Frances Creek operation by mining manganese-rich iron ore deposits within the area and beneficiating lower grade deposits.
Mr Simpson said Territory was turning a corner after an extremely difficult period, having been financially restructured and refocused through the divestment of non-core assets, namely stakes in other ailing ASX-listed miners.

These interests were a legacy of its previous chairman Michael Kiernan, who is presently attempting to rebuild a diversified mining group via Stirling Resources Ltd.
Territory expects it will be able to repay an outstanding loan to Noble of about $63 million by offering it a greater equity stake."

Shares in Territory were down half a cent at 17.5 cents at 1252 AEDT

Extract from : http://au.news.yahoo.com/thewest/business/a/-/wa/6531156/territory-hunts-for-acquisitions-says-spot-prices-to-rise-20pc/