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The latest announcement is out from Australian Pacific Coal ( (AU:AQC) ).
Australian Pacific Coal Limited announced significant developments regarding its Dartbrook Mine, with voluntary administrators appointed to its operator, Dartbrook Operations Pty Ltd, and receivers and managers appointed by Vitol Asia Pte Ltd as secured creditors. The company indicated that due to the receivership and administration, it is unlikely to receive any distribution from the Dartbrook Mine, leading to an assumption of no value in its interest. Despite these challenges, the company maintains solvency with $1.3 million in cash and continues to assess the situation, while Vitol Asia Pte Ltd has stated it does not currently intend to call on a parent company guarantee.
More about Australian Pacific Coal
Australian Pacific Coal Limited is involved in the coal mining industry, primarily focusing on the Dartbrook Mine located in the Hunter Valley, New South Wales. The company holds significant interests in various mining tenements and is engaged in joint ventures to expand its resource base.
Average Trading Volume: 1,143,066
Technical Sentiment Signal: Sell
Current Market Cap: A$4.55M
For a thorough assessment of AQC stock, go to TipRanks’ Stock Analysis page.