Alita Resources Limited - Liquidation

Alita Resources Limited, a Perth-based mining company whose primary asset is the Bald Hill Lithium and Tantalum Mine in Western Australia, was placed in liquidation on 27 September 2023. The company has been in administration since 2019. In December 2020, Chinese-linked company Austroid purchased the company’s debt and became its secured creditor. It proposed a DOCA that would have seen its debt exchanged for equity, but the Australian government blocked Austroid from increasing its ownership in the company in July of this year. Robert Kirman, Robert Brauer and Matthew Caddy of McGrath Nicol were appointed as the company’s liquidators. The liquidation order also permits the company to dispose of the mine via a share sale to Mineral Resources, an unrelated third party.