CENTENNIAL MINING LIMITED (ASX.CTL)

Since delisting from ASX this entity has been privatised. We are no longer monitoring its activities.

now called KAISER MINING PTY LTD

The status of the organisation is changed from Strike-off Action in Progress to Registered

Strike-off action has been initiated against the company

administrators have issued a statement confirming that all shares were transferred for NIL consideration on 21 January 2021 (click here for the statement) and the capital loss can therefore be claimed in the financial year the shares were transferred, that is 2020/2021

there was a proposal under a varied deed of company arrangement to transfer all shares to Golden River Resources Pty Limited for nil consideration - it appears, the company having now emerged from administration, that the deed is effectuated and the shares therefore transferred - as a consequence, shareholders who acquired shares in the Company on or after 2O September 1985 may choose to make a capital loss in the income year as a result of the Capital Gains Tax ('CGT') event occurring upon the transfer of the Shares

delisted from the close of trading on Wednesday, 28 August 2019 pursuant to Listing rule 17.15.

we understand this company failed to pay its annual listing fee on due date and ASX has accordingly removed it from the official list

The Deed Administrators received correspondence from the DoCA Proponent dated 8 July 2019 advising that it is their opinion that the DoCA in its current form cannot be completed and will require variation. The DoCA Proponent confirmed that they will propose a variation to the DoCA that will be put forward for creditor consideration. The Deed Administrators are continuing to work with the DoCA Proponent to confirm the terms of the proposed variation to the DoCA to allow for an assessment of whether the restructure under the varied DoCA would be in the best interests of all stakeholders.

The Deed Administrators wish to advise they recently received notice of a court application, which lists Centennial & Ors as defendants, filed by Gandel Metals. The Deed Administrators have engaged with Gandel Metals to work toward having this matter addressed through an urgent hearing toward the end of July 2019 or early August 2019. The Deed Administrators do not accept Gandel Metals' position as outlined in the proceedings. Should Gandel Metals be successful in obtaining the relief, it is likely the DOCA will be withdrawn as one of the conditions precedent to the DOCA will be unable to be satisfied.

Centennial executed a DOCA with Avior Consulting on 7 June 2019.

The second meetings of creditors were held on Friday, 17 May 2019 to consider the future of the Companies. Further to the Administrators' announcement on the ASX dated 14 May 2019, the Administrators did not receive any additional deed of company arrangement proposals from any other parties prior to the meetings. At the meetings, the creditors voted to accept the DoCA proposed by Avior Consulting which was outlined in the Administrators Report to Creditors dated 10 May 2019 in both creditor number and value. The Administrators will now work to execute the DoCA within 15 business days from the meetings.

After conducting due diligence investigations, the Board of AuStar has determined, based on the currently available information, not to submit a DOCA to CTL creditors prior to the meeting of CTL creditors to be held on 17 May 2019 . AUL will continue to monitor the progress of CTL.

The administrators have assisted AuStrar with their enquires since 1 May 2019 when AuStar first engaged with the Administrators around the prospects of submitting a DoCA. The administrators had agreed with AuStar that a DoCA proposal would need to be received by close of business on 9 May 2019 for it to be included in our report to creditors. A DoCA proposal was not received from AuStar before our report went out on 10 May 2019. Further, no DoCA proposal has been received to date; albeit AuStar has reserved its rights to submit a DoCA before the second meetings of creditors on 17 May 2019. The administrators have received one DoCA proposal from Avior Consulting. The administrators have recommended that creditors accept the DoCA as the proposal provides a better outcome for creditors than may be expected in liquidation.

AuStar Gold has entered into discussions with the Administrators, Korda Mentha, and other parties to assess the potential of proposing a DOCA to Centennial Mining Limited creditors. AuStar Gold expects to make further announcements in the coming days regarding the details of any proposed DOCA, and encourages all existing creditors of CTL to take no immediate action regarding any alternative proposals until AuStar Gold provides further updates.

The Administrators have determined to continue operating the Companies on a limited mining basis in the short term. The Administrators consider that this is in the best interests of creditors as it provides the Companies with the opportunity to better pursue the recapitalisation process. To allow the Companies to continue to trade whilst the recapitalisation of the Companies is explored, we have entered into a non-recourse funding agreement with Mining Lending Pty Ltd who is linked with Avior Consulting which is a potential Deed of Company Arrangement proponent.

Richard Tucker, John Bumbak and Leanne Chesser of KordaMentha Restructuring were appointed as voluntary administrators of the Company and its wholly owned subsidiary, Maldon Resources on 21 March 2019. The administrators are in discussions with potential investors to secure funding to allow the Companies to continue to trade whilst the administrators pursue a recapitalisation of the Companies via a Deed of Company Arrangement.

Following productive discussions with a group representing approximately 5% of Centennial shareholders, the requisition notice under section 249D of the Corporations Act to remove Mr Dale Rogers as a director and to remove any director appointed after the date of the notice has been withdrawn. The Company is progressing its restructuring and re-financing plans and has been in discussions with major creditors regarding a debt to equity swap by way of participation in the proposed rights issue.

The Company has been focussed on a holistic re-financing plan and hopes to bring further updates on implementation of that plan shortly. It is anticipated that the 2018 AGM will be held in mid-April 2019.

The delays in finalising the audit have proven to be circular in nature. In order to complete the audit, the Company needs to finalise a recapitalisation plan, and assess the impact upon operations. As a result of this process it has become apparent that the previously announced recapitalisation needs to be both upscaled, restructured and repriced. The Octagonal Group has conditionally agreed to a majority debt to equity swap by way of participation in a proposed rights issue that would involve an up to $5m equity investment in the Company. This may result in the Octagonal Group becoming a 20% to 25% shareholder, depending on subscription levels by other shareholders. The Company has completed significant development works to commence mining the Victory North/Magenta Zone.

The company lodges its Quarterly Activities Report.

The company has received a notice requesting the directors call a general meeting of shareholders pursuant to section 249D of the Corporations Act. The request was received from shareholders who purport to hold in excess of 5% of the issued share capital and seeks resolutions for the removal of Mr Dale Rogers as a director and the removal of any director appointed after the date of the notice. The Board is seeking advice regarding the validity of the notice.

The company lodges its Quarterly Cashflow Report.

ASIC has granted the company an extension of time to hold its 2018 AGM. ASIC has extended the period within which the Company must hold its AGM to 31 January 2019. The Company is progressing the finalisation of the convertible note and formal security agreements, as well as the notice of AGM and IER to seek the required shareholders approvals.

The company's mineral resource is updated to incorporate drilling, mining and geological data from 1400 to 1260mRL. Total Indicated and Inferred Mineral Resources estimated at the A1 Gold Mine is 1.26 Mt at 6.13 g/t Au for 249,000 oz Au. Underground drilling is commencing to better define and expand Victory North area. Updated Mineral Resource estimate coupled with planned resource drilling are the first steps in scoping out a + 5 year mining plan.

The company lodges its Quarterly Activities and Cashflow Reports.

Long Hole stoping recommenced at the A1 Gold Mine after 10 months. Recent drilling of the 1360 Area of the A1 Gold Mine intersected broad zones of high-grade gold that presented an immediate long hole stoping opportunity.

The company provides a corporate update and progress report. Debt funding refinance is allowing a restart in operations. Plant is now up and running to restore production to ~40,000 tonnes per quarter volumes. Victory North ore on line "“ targeting +5g/t Au. Mine development in Victory North area is extending on ore well beyond previously modelled boundary. First 15 grade control drill holes at Victory North indicate a larger ore block than previously anticipated and containing multiple high-grade structures across a broad area. Centennial is continuing to develop and drill to define the top level of Victory North stoping block.

The company's largest shareholder group has provided a short term loan to the company to assist in redeeming the Convertible Notes ($2.5m face value) and pay the final interest payments and ancillary charges in full. The redemption affords the Company the opportunity to progress the holistic refinancing of its operations. The previous Noteholder Representative had declined to grant a repayment extension past 10 August.

Following a scheduled ASX internal system change affecting the Market Announcements Platform, it has been necessary to re-apply the "˜Suspend' session state. This announcement serves to re-confirm the securities of this entity remain suspended.

The company lodges its Quarterly Activities and Cashflow Reports.

The company provides an update on its capital management initiatives. The maturity date of the Convertible Notes has been extended to close of business on 10 August 2018. The precise structure of the financing to repay the Convertible Notes in full as well as provide additional working capital is still being formulated. At this stage, the financing is likely to include a capital raising via a rights issue. The Company envisages completion within three months.

The company provides an update on its capital management initiatives. The maturity date has been extended to close of business on 11 July 2018, by which time the Company expects to be in a position to provide an update on the negotiated re-financing proposals.

The company has been granted an extension of time for repayment of convertible notes and associated final interest payments. Centennial has recently been in discussions with Squadron Resources, as noteholder representative, to seek further time to restructure its finances. The maturity date has been extended to close of business on 4 July 218,by which time the company expects to be in a position to provide an update on the negotiated re-financing proposals.

The company requests the company's securities remain in suspension pending the finalisation of its capital management initiatives. The Company anticipates being able to make an announcement to end the voluntary suspension prior to open of normal trading on Monday, 2 July 2018.

The securities of Centennial Mining Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of the Company, pending the release of an announcement regarding the finalization of its capital management initiatives.

The suspension of trading in the securities of Centennial Mining Limited will be lifted immediately, following receipt of an announcement.

The company announces that its share purchase plan was oversubscribed and shares details on top up placement.

The company releases an investor presentation.

All resolutions were passed by the requisited majority at the AGM.

The securities of Centennial Mining Limited will be suspended from official quotation immediately at the request of the Company, pending the release of an announcement.

name changed from A1 Consolidated Gold Ltd