Mallee Resources Group (ASX:MYL) - Case Update

The period for convening the second meeting of creditors has been extended for 6 months to 5 April 2024 in the administration of Mallee Resources Group (ASX:MYL), a West Perth-headquartered mining company which owns the Avebury Nickel Sulphide Project in Zeehan, western Tasmania. Matthew Caddy, Robert Kirman and Shaun Fraser of McGrathNichol were appointed joint administrators of the company last month after the company was unable to repay the amounts owing under a debt standstill agreement. Mark Korda, Richard Tucker and Scott Langdon of KordaMentha were appointed receivers, and are continuing to operate the company’s operations at the Avebury mine with a view to securing a sale of the business. The receivers asked the administrators to make the application to extend the convening period on the basis that there are parties who have expressed an interest in the receivers undertaking a sale process, and that this may result in a DOCA proposal in due course. The Court noted that the six‑month extension sought was lengthy but appropriate in the context of the administration and in light of the nature of the business conducted by the companies.