Alita Resources Ltd. Gains Financial Leverage

Alita Resources Ltd. (SG:40F) has released an update.

Alita Resources Ltd. has received a $2.5 million payment from its former liquidators, as ordered by the Supreme Court of Western Australia, which will be used to address issues with the Australian Taxation Office (ATO) and maintain company affairs. The ATO will soon provide reasons for recent tax assessments, prompting the company to plan objections with the guidance of tax advisers. Additionally, with the ASIC relief expired, Alita Resources is preparing to meet financial reporting requirements and is considering seeking extensions for annual reports and general meeting obligations.

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