Mallee Resources Group (ASX:MYL) - Administration

Mallee Resources Group (ASX:MYL), a West Perth-headquartered mining company which owns the Avebury Nickel Sulphide Project in Zeehan, western Tasmania, entered administration on 5 September 2023. The debt facilities provided by Hartree Partners became due and payable upon the expiration of the debt standstill agreement, midnight on Monday 4 September. The company had insufficient capital to repay the amounts owing and had not reached a binding agreement with potential financiers. Matthew Caddy, Robert Kirman and Shaun Fraser of McGrathNichol were appointed joint administrators. The appointment was referred to them by a partner of HWL Ebsworth. Subsequent to the administrators’ appointment, Mark Korda, Richard Tucker and Scott Langdon of KordaMentha were appointed Receivers of certain Mallee Resources Group companies. They are responsible for day-to-day operations at the Avenbury Nickel Mine.