Albidon shares have been placed in a trading halt as it scrambles to secure final funding approval from senior lenders and unsecured creditors or be placed in voluntary administration.
Shares in Albidon have slumped as much as 43 per cent as the nickel miner places its Munali operation on care and maintenance and lays off some 350 employees and contractors.
Shares in nickel miner Albidon have been placed in a trading halt as the company reveals its $40 million private investment deal is unlikely to go ahead.
Nickel miner Albidon has reached an agreement with a private investment fund for a capital injection of up to $40 million through a convertible notes issue.
Shares in nickel miner Albidon have slumped over 41 per cent as it posts "disappointing" production figures and suspends some development work at its Zambian mine.
Nickel miner Albidon says it will slash its mining workforce in Zambia by half and downsize its Perth office as part of cost cutting measures following an operational review.
The instability of the global financial markets has prompted West Perth-based Albidon Ltd to defer most aspects of the bankable feasibility study on its Chirundu uranium joint venture.
West Perth-based African Energy Resources (Guernsey) Ltd and partner Albidon Ltd have elected to proceed with a bankable feasibility study over an African uranium project after a previous analysis pegged total capital costs at $93 million.
West Perth-based Albidon Ltd has made the transition to nickel producer following the production of first concentrate at its Munali project in Zambia, with cash flow starting next month.
Perth-based nickel miner Albidon Ltd could be in play as a takeover target after its major shareholder revealed plans to sell its blocking stake worth some $37 million.
Perth-based nickel miner Albidon Ltd could be in play as a takeover target after its major shareholder revealed plans to sell its blocking stake worth some $37 million.
It's the kind of story that would be big news in so many places.
A couple of boffins come together with a pair of money men, see a gap in the market, and set up a business.
West Perth-based mineral explorer Albidon Ltd has signed an offtake agreement for its Munali Nickel Project in Zambia with Chinese giant Jinchuan Group Ltd worth over US$25 million.
West Perth-based mineral explorer Albidon Ltd will raise around $46.9 million through a placement to fund further work on its Munali Nickel Project in Zambia.
Nedlands-based nickel company Albidon Ltd has raised $13.4 million from UK and Australian instititional investors to fund development of its Munali project in Zambia.
