View Resources to be liquidated12-October-09 by Staff...

View Resources to be liquidated
12-October-09 by Staff Reporters


The administrators of View Resources say they will liquidate the former gold miner as the $16 million from the sale of its Bronzewing mine is used to partly repay a secured loan facility.

In an update today, administrator Ferrier Hodgson said the sale of the mine to Navigator Resources is now complete, with funds to repay a loan facility provided by Austral-Asia Resources and Infrastructure Investments Pty Ltd.

Austral-Asia has put forward a number of variations to View's deed of company arrangement, which is expected to expire at the end of this month, which will be up for the administrators and creditors deliberation, Ferrier Hodgson said.

http://www.wabusinessnews.com.au/en-story.php?/1/75864/View-Resources-to-be-liquidated/dba&printstory=y