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administrator again reports that he is yet to receive a reply from the directors, but in his opinion it is highly likely that this company will end up in liquidation and there will be no return to creditors or shareholders
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02/10/2007
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the deed administrator is still awaiting a final update from the directors - he will revert back to us within 7 days, but is not optimistic about the outcome
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22/02/2007
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deed administrator is awaiting a formal response from the directors - as of now it would appear
that the deed of company arrangement is going to fall over
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25/09/2006
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delisted following failure to pay its annual listing fee in respect of the year ended 30 June 2007
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29/08/2006
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administrator is waiting on advice from the directors
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13/06/2006
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administrator confirms that the administration is proceeding - he is waiting for finalisation of the preparation and auditing of financial reports for the past 4 years
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02/03/2006
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Metex Resources Ltd is currently updating scoping studies completed at its 100% owned
Lancefield Project and 50% owned Gladiator Project to assess the impact of the current gold price
(A$750 per ounce) on defined resources at these projects - the evaluation is to be extended to include the
Company's 50% interest in a number of defined oxide ore deposits currently being assessed as part of
the Laverton Exploration Joint Venture (LEJV) with Placer Dome Asia Pacific Ltd (PDAP) so as to
determine at what point the Company should consider the development of its own processing
infrastructure at Laverton - this financial modeling will be extended to accommodate escalating gold
prices ranging up to A$1000 per ounce
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30/01/2006
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deed administrator confirms that control is effectively with the directors who are still completing prior year audits and other compliance measures
imposed by the ASX & ASIC - they will be convening a shareholder meeting to
consider proposals when that process has been completed
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07/11/2005
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we understand directors are negotiating the conditions for relisting with the ASX and upon completion of those negotiations, will convene shareholder meetings to consider the proposals
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05/05/2005
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we have been seeking an update of developments from administrator Mark Reilly of Featherby Reilly since 23 January 2005
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28/04/2005
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the deed administrator is seeking a status report from directors and will advise further as soon as he hears
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06/08/2004
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the deed administrator can now execute the variation to the DOCA that was previously agreed to by creditors - the directors of the company should also be able to execute it shortly - the company will then come out of administration and the directors will move to convene a shareholders meeting to consider a reconstruction
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13/04/2004
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seeking update since 10 mar 04
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26/03/2004
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we understand that a creditor that took out an injunction preventing the company from entering into a new deed of company arrangement has withdrawn it - legal advice is expected to confirm that the administrator can move forward - he expects that advice within the next 10 days - if the advice is favourable, he expects that a shareholders meeting would be convened shortly thereafter to consider a proposal for a recapitalisation of the company
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24/02/2004
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the company has not paid its annual listing fee - it will be removed from the official list on 1 September 2003 if it does not pay the fee by Friday Aug 29
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25/08/2003
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administrators advise that there is an ongoing dispute with a creditor - they expect the matter to be resolved in the next 3 - 6 months - following that a meeting of creditors will be called to decide the future of the company
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07/08/2003
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seeking an update from the administrators
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03/07/2003
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ASIC grants the company a further extension of 60 days from 28 February 2003 to hold its Annual General Meeting
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14/02/2003
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a Deed of Company Arrangement has been entered into and the administrator expects there will be a dividend to unsecured creditors fairly shortly - preliminary indications are that there will be no return to shareholders but we await confirmation of this and a copy of the DOCA
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17/12/2002
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ASIC grants the company an extension of time to hold its Annual General Meeting until 28 Feb'03
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22/10/2002
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G Featherby and M Reilly appointed joint and several administrators
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18/09/2002
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administrators indicate it is the intention of the directors to put forward a Deed of Company Arrangement in due course
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18/09/2002
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in its preliminary report to the market the company said that subsequent to 30th June 2000, 30 June 2001 and 30th June 2002, it has reached agreement in principle with creditors (including DRD) in respect of the debit for equity swap for their debts (totalling $12.5m), subject to the completion of a future capital raising and re-listing on the ASX - the process has however been delayed as a result of DRD resisting finalisation of the settlement terms on the sale of the Rawas Gold Mine
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13/09/2002
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shares suspended from quotation
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06/10/1998
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