Troubled mining group FairStar Resources has been put in the hands of receivers and managers with the appointment of PPB Advisory's Simon Theobald and Melissa Humann.
SPECIAL REPORT: Tight debt and equity environments have led many junior mining and exploration firms to seek alternative arrangements to finance their operations.
FairStar Resources has cancelled its $260 million joint venture which would have provided 80 per cent of the required funding for its Steeple Hill iron ore mine in the eastern Goldfields, while at the same time announcing an alternative deal that will pay for the project's rail infrastructure.
