The Michael Kiernan-led Stirling Resources says it has finished the $15 million recapitalisation of collapsed Monarch Gold, which will be rebadged as Swan Gold Mining.
Perth businessman Robert Nash, through his company Golden Stallion Resources, is set to buy the Minjar gold asset from collapsed company Monarch Gold Mining for some $13 million.
Administrators for Monarch Gold Mining say the Minjar gold project is likely to be sold within the next few days as a mixture of local and overseas parties express interests in other assets.
NEXT year may be the year of the insolvency practitioner but the sector was certainly gearing up for business in 2008 as the older hands of the sector recognised the signs of a stumbling bull market.
Monarch Gold Mining Company Ltd has lost its third director since it was placed into voluntary administration in July with John Davis stepping down today.
Despite announcing a $30 million lifeline package earlier this week, Monarch Gold Mining Company Ltd has today appointed Pitcher Partners as voluntary administrators.
Michael Kiernan has released details of a $30 million funding package to save Monarch Gold Mining Company Ltd, which includes a $25 million capital raising and an interest-free $15 million loan provided by the Kiernan family.
Shares in Territory Resources Ltd have been placed in a trading halt pending the release of an announcement on the re-alignment of the company going forward.
Michael Kiernan-chaired companies Monarch Gold Mining Company Ltd and Territory Resources Ltd have raised $10 million and $9.3 million, respectively, from share placements.
West Perth-based Monarch Gold Mining Company Ltd has announced plans to list on the Toronto Stock Exchange by the first quarter of 2008, after listing on the Dubai International Financial Exchange earlier this year.
Monarch Gold Mining Company is fast tracking the development of its high grade Kalgoorlie gold projects and ramping up production at its Davyhurst mill over the next four months, the company announced today.
One day after acquiring the Riverina gold project, West Perth-based Monarch Gold Mining Company Ltd has committed over $11 million to drilling programs on its Goldfields tenements during the 2007-08 financial year.
West Perth-based Monarch Gold Mining Company Ltd has signed a deal with Riverina Resources Pty Ltd and Barra Resources Ltd for the acquisition of the Riverina Gold project in a deal worth over $4 million.
West Perth-based Monarch Gold Mining Company Ltd has completed a $19.5 million capital raising, after shareholders subscribed for 77 per cent of entitlements under a non-renounceable offer.
West Perth-based Monarch Gold Mining Company Ltd today joined Queensland's Citigold Corporation Ltd and Sydney's BoulderSteel Ltd in becoming the 19th listing on the Dubai International Financial Exchange.
West Perth-based Monarch Gold Mining Company has acquired tenements surrounding its Mt Ida Gold Mine project for $5 million from West Perth's International Goldfields Ltd.
