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Computershare Perth
Level 17, 221 St Georges Terrace, Perth WA 6000
Tel : +61 (0)3 9415 4000 or 1300 850 505 (within Australia)
Fax : +61 3 9473 2500
RegistryWebsite RegistryEmail

Company details
Address: 945 Wellington Street , WEST PERTH , WA, AUSTRALIA, 6005
Tel:  (08) 9355 4155 Fax: (08) 9355 4433

Date first listed: 18/12/1986

Sector: Materials
Industry Group: XMJ
Activities: Gold production and exploration for and development of viable mining projects, investments in the resource industry and share trading.

company is deregistered


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


a loss declaration has been issued and the capital loss can therefore be claimed in the financial year the declaration is issued


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


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


delisted following failure to pay its annual listing fee in respect of the year ended 30 June 2007


administrator is waiting on advice from the directors


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


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


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


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


we have been seeking an update of developments from administrator Mark Reilly of Featherby Reilly since 23 January 2005


the deed administrator is seeking a status report from directors and will advise further as soon as he hears


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


seeking update since 10 mar 04


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


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


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


seeking an update from the administrators


ASIC grants the company a further extension of 60 days from 28 February 2003 to hold its Annual General Meeting


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


ASIC grants the company an extension of time to hold its Annual General Meeting until 28 Feb'03


administrators indicate it is the intention of the directors to put forward a Deed of Company Arrangement in due course


G Featherby and M Reilly appointed joint and several administrators


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


shares suspended from quotation

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    Directors' on-market share transactions (last 5)


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    Directors & Executives (current)
    Hendrik BuitendagDirector
    John StrattonDirector
    Mark ReillyAdministrator
    David N RiekeCompany Secretary

    Date of first appointment, title may have changed.

    Directors & Executives (former)

    Date of first appointment, title may have changed.