Following their appointment on 29 April 2012 and the First Meetings of Creditors held on 9 May 2012, Michael Ryan, Mark Englebert, Stefan Dopking and Quentin Olde as the voluntary administrators of Kagara Limited (Administrators Appointed) and its three wholly-owned subsidiaries*, announce that they have secured initial funding for the [...]
Kagara continues to review business operations and focus on core producing assets. This includes a restructure of its banking arrangements which have impacted Kagara's short term cash flow. As a result of this tightening of cash flow, mining operations at Baal Gammon have been suspended. This suspension is temporary while Kagara completes the [...]
Further to the announcement on 5 March 2012, Kagara Limited has now completed the sale of its Western Australia nickel assets. Under the completed agreement, Western Areas has acquired 100% of Kagara's nickel subsidiary, Kagara Nickel Pty Ltd. Reconciliation of final stockpile inventory adjustments and costs between the two companies will be [...]
Kagara Limited today announced the first stage of a comprehensive restructure of its Board. Mr Kim Robinson will step down immediately as Non-Executive Chairman, but will remain on the Board as a Non-Executive Director. Mr Robinson was a founding Chairman of Kagara from its establishment and listing on the ASX in 1999 and has made an enormous [...]
In conjunction with the release of its financial results for the six months to 31 December 2011, Kagara Limited today announced a significant restructure of its North Queensland base metal operations and updated production guidance for FY12. The Company has also recently announced the sale of its non-core nickel assets (see ASX Announcement of [...]
Kagara Limited is pleased to announce that it has reached agreement with Western Areas NL to sell its nickel assets in Western Australia, including the Lounge Lizard nickel mine, for $68 million in cash. In addition Kagara will receive fair value for high grade ore stockpiles. Under the agreement, Western Areas will acquire 100 per cent of Kagara's [...]
Kagara is pleased to announce the appointment of Paul Warme to its Executive Committee as Executive General Manager, Finance. Mr Warme, who has 20 years of experience in commercial and finance roles, primarily in the mining sector, joins Kagara from a senior role in Rio Tinto where he was most recently General Manager, Business Evaluation based in [...]
Kagara is pleased to announce an updated polymetallic resource inventory for the Northern Chillagoe Region, part of its North Queensland base metal operations, following successful drilling programs carried out during 1HFY12. The updated resource inventory - which includes maiden Inferred Resource estimates for the recently discovered Queenslander [...]
