Cor Cordis appointed Voluntary Administrators of Copper Resources Australia Pty Ltd
Thomas Birch, Stephen Earel and Jeremy Nipps of restructuring advisory firm Cor Cordis, have been appointed Voluntary Administrators of Copper Resources Australia Pty Ltd (the Company) on 21 November 2024.
Copper Resources Australia Pty Ltd is the operator of the Rocklands Mine Project, located 17km from the township of Cloncurry, in northwest Queensland.
The Company’s directors have determined that in the best interests of the company and its stakeholders, the appointment of Administrators was required with a view to restructure its financial affairs to preserve its operations into the future.
As part of the voluntary administration process, Cor Cordis has initiated an urgent review of Copper Resources Australia’s financial affairs and is actively evaluating options for restructuring or recapitalisation.
“A decision has been made to immediately transition the Company’s Rocklands Mine Project into care and maintenance, allowing the Administrators the necessary time and resources to explore opportunities to recapitalise and/or restructure the Company. To support this process, we have engaged Argonaut PCF to assist with the sale and restructuring efforts”, said Thomas Birch.
“In addition, we have retained Copper Resources Australia’s senior management team, along with a dedicated care and maintenance team, to safely manage the transition of the Rocklands Mine Project into care and maintenance. These teams will ensure compliance with all relevant state and federal regulations and continue to meet the Company’s licensing and reporting obligations.”
“We will continue to engage with all key stakeholders during the voluntary administration process. The first meeting of creditors will be held on 3 December 2024”, said Thomas Birch.
Media enquiries
Denise Salvador, Marketing Manager, dsalvador@corcordis.com.au
