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Australian Pacific Coal ( (AU:AQC) ) has shared an announcement.
Australian Pacific Coal Limited has announced that Dartbrook Operations Pty Ltd, the operator of the Dartbrook Mine, has entered voluntary administration, leading to the appointment of receivers by Vitol Asia Pte Ltd, a secured creditor. This development has significant implications for the company, as it is unlikely to recover any value from its interest in the Dartbrook Mine due to the size of the senior secured debt. The company has a contingent liability under a parent company guarantee that exceeds its current assets, but directors believe the company remains solvent based on available cash resources.
More about Australian Pacific Coal
Australian Pacific Coal Limited operates in the mining industry, focusing on coal production. The company is involved in the Dartbrook Mine, which is a key asset in its portfolio.
Average Trading Volume: 788,448
Technical Sentiment Signal: Sell
Current Market Cap: A$35.72M
Find detailed analytics on AQC stock on TipRanks’ Stock Analysis page.