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 [...]