Galena Mining Ltd. (AU:G1A) has released an update.
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Galena Mining Ltd has announced the appointment of voluntary administrators to its subsidiary, Abra Mining Pty Ltd, due to operational ramp-up issues, mined grade inconsistencies, and recent rainfall disrupting supply and haulage at the Abra Base Metals Mine in Western Australia. The administrators will continue the mine’s operations while exploring financial and operational restructuring options to preserve stakeholder value. Meanwhile, Galena Mining will remain suspended from trading during the administration period.
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