Friday, 28 June, 2013 - 14:39
Kagara offloads last assets
Administrators for collapsed miner Kagara have sold off the company’s remaining Queensland assets in two deals worth more than $71 million.
Administrators for collapsed miner Kagara have sold off the company’s remaining Queensland assets in two deals worth more than $71 million.
Base Metals miner Kagara has cancelled the sale of half its remaining Queensland assets after negotiations with the purchaser, which failed to come up with $6 million in deposits for the projects in July, came up empty.
Exploration firm Red River Resources has seen its share price jump by over 80 per cent after it entered into a $6.5 million agreement with the administrators of collapsed explorer Kagara, for the sale of its projects in northern Queensland.
Announced | Bidder | Target | Transaction Type | Total Value | |
---|---|---|---|---|---|
Lucky Metals | Kagara | Asset acquisition | $71.00m | >> |