Imdex Ltd (AU:IMD) has released an update.
Imdex Ltd, a leader in the mining-tech industry, has reported that its subsidiary Australian Mud Company Pty Ltd (AMC) has not received a court-ordered payment of $7.96 million from Globaltech Corporation Pty Ltd, which has entered into voluntary administration. Globaltech, partially owned by the Boart Longyear group, was liable alongside GPL, now in liquidation. Imdex is determined to explore all options to recover its dues and is working with administrators to secure the best possible outcome.
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