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ASX Announcements (courtesy of ASX)


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(updated at weekends)
2018 2019 2020   ALL
Former (or subsequent) names


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Our website ranking of CM1: rating 2
(2 out of 5)


Computershare Brisbane
Level 1, 200 Mary Street Brisbane QLD 4000
Tel : +61 (0)3 9415 4000 or 1300 850 505 (within Australia)
Fax : +61 7 3229 9860
RegistryWebsite RegistryEmail

Company details
ISIN: AU0000016362
Address: Ground Floor 23 Altona Street West Perth WA 6005 AUSTRALIA
Tel:  +61 8 9486 9888

Date first listed: 30/08/2018

Sector: Materials
Activities: Exploration

delisted from the commencement of trading on Monday, 3 August 2020, pursuant to Listing rule 17.12.


we understand the company failed to lodge a document with ASX for more than a year and anyway was in liquidation and had failed as a business


a loss declaration has been issued and the capital loss can therefore be claimed in the financial year the declaration is issued (this declaration was issued on 28 May 2020)


Consent of SMS was not received to the variation to the Recapitalisation Proposal within the time required and accordingly, the Company has proceeded into liquidation pursuant to the terms of the DOCA. The Company will be deregistered from the ASX as a result of the liquidation.


The Deed Administrators have been advised by the Receivers and Managers of the Company that the sale of the Geko Gold Project has completed in February 2020. The Deed Administrators have requested the Receivers announce the details of the sale to the ASX. The Deed Administrators have received a variation to the Recapitalisation Proposal. The Proponents of the Recapitalisation Proposal are continuing to negotiate with SMS. The Proponents are also working with the Deed Administrators to ensure the Company's ASX compliance is maintained by adhering with the periodic ASX continuous disclosure requirements until these negotiations are finalised, however, as noted in the March Announcement, absent a viable Recapitalisation Proposal, that has the consent of SMS, being approved by creditors and executed as a variation to the current holding DOCA by 27 May 2020, the Company will automatically proceed to liquidation.


The company lodges its 31 March 2019 Quarterly Report and Appendix 5B.


The company lodges its Half Yearly Report and Accounts.


A report to creditors was issued on 30 January 2020, convening a meeting of creditors for 6 February 2020 and providing details of a recapitalisation proposal received. At the meeting creditors resolved to adjourn the meeting for up to 15 business days. The adjourned meeting of creditors was reconvened on 26 February 2020 at which creditors resolved to vary the Holding DOCA by extending the Deadline Date to 27 May 2020 to accommodate the Recapitalisation DOCA or any other proposal. A varied deed of company arrangement to effect this variation was executed on 9 March 2020 and has been lodged with the Australian Securities and Investments Commission as required.


The company executed a holding DOCA on 23 December 2019 and Daniel Bredenkamp and Bryan Hughes were appointed as joint and several deed administrators on that same day. The holding DOCA will automatically terminate and the company will be placed in liquidation on 7 February 2020 if creditors have not passed a resolution for the company to vary the holding DOCA by 7 February 2020. To have passed such a resolution by that date, the deed administrators must have received an acceptable proposal to vary the holding DOCA by 24 January 2020. To be acceptable, the proposal to vary the holding DOCA must be agreed by both the proponents and the secured lenders and be reasonably capable of completion.


The adjourned second meeting of creditors was held on 10 December 2019. At that meeting, creditors resolved that the company execute a holding DOCA. The holding DOCA will automatically terminate and the company will be placed in liquidation on 7 February 2020, if no variation to the Holding DOCA is received and executed by that date. Negotiations are continuing between the proponents of a recapitalisation proposal and the secured creditor in the hope liquidation can be avoided.


At the second meeting of creditors (8 October 2019), creditors resolved that the meeting be adjourned for up to 45 business days. The purpose of the adjournment is to provide the Receivers and Managers with additional time to assess the offers that have been presented in respect of assets of the company. During the adjournment period, the Administrators will also work with the Receivers and Managers to consider a recapitalisation proposal with a view to maximising the outcome to all stakeholders of the company.


The company has not paid their annual listing fees in respect of the year ending 30 June 2020 but the securities are already suspended from official quotation.


The receivers and managers are seeking expressions of interest to either: purchase the assets of the company; and/or propose a restructure or recapitalisation of the company's affairs including via a deed of company arrangement.


At the meeting of creditors on 13 March 2019, creditors ratified the appointment of the administrators. Creditors also elected to appoint a Committee of Inspection to the company. The second meeting of creditors is scheduled to be held on 5 April 2019. At the meeting, the creditors will be asked to make a decision regarding the future of the company. Also, the company has relied on deferral relief in respect of the company's obligation to prepare, lodge and have audieted its full year financial report and directors' report for a period of 6 months in respect of the period ending 31 December 2018. While the company is in administration, the company's shares will remain suspended and shareholders are unable to transfer their shares during this time.


Barry Wright and Clifford Rocke were appointed as receivers and managers of the company on 1 March 2019. Their role is to take control of the assets and undertakings of the company. Their initial mandate is to effect an orderly realisation of the company's assets. Shareholders are requested to refrain from contacting their office at this time. The receivers and managers will provide updates through ASX from time to time.


Bryan Hughes and Daniel Bredenkamp were appointed as joint and several administrators of the company. The administrators have assumed control of the company's assets asnd operations. The Company incurred mining issues at the Geko Gold Project in Coolgardie, however it believes those issues have now been substantially resolved. The delays and significant additional costs incurred to date were not budgeted and are unfunded. The Administration process provides a moratorium to allow the Company to explore all options for resolving this. Those options include the sale of the Geko Gold Project and surrounding portfolio of tenements, which will now be put to the market, whilst the Company also explores debt restructuring and capital raising alternatives. Whilst CM1 is in administration the shares will remain suspended. Shareholders are also unable to transfer their shares during this time. The meeting which was to be held at 10am, Monday 11 March will no longer proceed.


CM1 continues to explore opportunities to sell mined ore stockpiles mined in January 2019 which are not suitable for sale under the previously announced Ore Sale Agreement with Northern Star and other lower grade oxide ore stockpiles to other nearby ore processing parties. CM1 is currently finalising variations to Stage 2 of the Geko mine plan including mine design following finalisation of the grade control model for the eastern side of the Geko project oxide zones. The company is requesting to remain in voluntary suspension until an announcement is made, and currently expects to make an announcement on or by 18 March 2019.


The company releases a notice of meeting. The meeting will be held at 10.00am (WST) on 11 March 2019 at Celtic Club, 48 Ord St, West Perth, Western Australia.


The securities of Coolgardie Minerals Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of CM1, pending the release of an announcement regarding the sale of mined ore stockpiles, amendments to the agreement with its mining contractor and short term funding arrangements.


The suspension of trading in the securities of Coolgardie Minerals Limited will be lifted immediately, following the release by CM1 of an announcement regarding funding arrangements.


CM1 raises $1.5 million (before costs) through issue of secured convertible notes to sophisticated investors. Funds to be used to pay existing trade creditors. did not meet 2.75g/t Au minimum grade requirement of the Ore Sale Agreement with Northern Star Resources. CM1 is exploring alternative arrangements for the sale or toll milling of this ore. Mine plan to be adjusted to optimise future mining through a three stage process. CM1's mining contractor, SMS Innovative Mining, has agreed to support CM1 by offering extended trading terms on outstanding invoices totalling $9.39 million (including GST), subject to certain conditions being satisfied, and by seeking to expedite the first stage of the new mine plan. Convertible noteholders, SMS and two related parties have been granted security over CM1's assets to secure repayment of amounts owing to them (with related party securities subject to receipt of an ASX waiver or a shareholder approval).


The securities of Coolgardie Minerals Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of CM1, pending the release of an announcement regarding funding arrangements.


listed entity carried for record purposes only

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    Directors' on-market share transactions (last 5)

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    Purchases Sales

    29/11/2018Neil Warburton888,372$0.109$96,744
    10/09/2018Neil Warburton575,000$0.162$93,208

    Click here for the last 20 transactions all companies

    Directors & Executives (current)
    Neil WarburtonNon Exec Chairman30/08/2018
    Bradd GranvilleManaging Director30/08/2018
    Greg MartinNon Exec Director30/08/2018
    Tony MiddletonNon Exec Director30/08/2018
    Susan HunterCompany Secretary

    Date of first appointment, title may have changed.

    SPECIAL NOTE: During May 2024 we are working to remove duplications in the Company Secretary role.

    Directors & Executives (former)
    Paul JagoNon Exec Director30/08/201821/12/2018

    Date of first appointment, title may have changed.