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MILLENNIUM MINERALS LIMITED (MOY)

Delisted from ASX 27/05/2020

SHARE PRICES

(updated weekly)

Former (or subsequent) names

 FROMTO
MILLENNIUM MINERALS LIMITED14/03/2008
WEDGETAIL MINING LIMITED01/11/200614/03/2008
WEDGETAIL EXPLORATION NL30/11/199901/11/2006
CLONCURRY MINING COMPANY NL30/11/1999

Shareholder links

Our website ranking of MOY: rating 5
(5 out of 5)
COMPANY WEBSITE:

 

REGISTRY:
Link Market Services, Level 12 QV1 Building 250 St Georges Terrace Perth WA 6000
Tel : +61 8 9211 6670 or 1300 554 474
Fax : +61 2 9287 0303
RegistryWebsite RegistryEmail

Company details

ISIN: w
Address: Unit 7 140 Abernathy Road Belmont WA 6104
Tel:  08 9216 9011 Fax: 08 9481 0288

Date first listed: 11/02/1993
Company Secretary: Ray Parry
Sector: Materials Industry Group: XMJ
Activities: Exploring for gold and associated minerals around the Nullagine project area in the Central Pilbara region of Western Australia

delisted from the close of trading on Wednesday, 27 May 2020, pursuant to Listing rule 17.11.

27/05/2020

we understand that this company failed and went into administration, as the result of which, all of the shares in the Company were transferred to the Deed of Company Arrangement Proponent's nominee for nil consideration

27/05/2020

ASIC granted relief to the company in relation to the company's annual reporting obligations. The relief extends, until 30 June 2020, the deadlines for the company to report to its members and lodge its annual report for the financial year ended 31 December 2019.

25/05/2020

The Deed Administrators advise that each of the remaining conditions to the DOCA were today satisfied, and all of the shares in the Company not already registered in the name of the DOCA Proponent (and such other persons that it specified) were transferred to the DOCA Proponent's nominee for nil consideration, in accordance with the Court's orders under section 444GA of the Corporations Act 2001 (Cth) made on 23 April 2020 and the terms of the DOCA. Under the terms of the DOCA, it will automatically effectuate in 2 business days, being Monday, 4 May 2020, at which time, the Deed Administrators will retire and control of the Company will transition to the directors nominated by the DOCA Proponent.

01/05/2020

The Court has made orders on the papers pursuant to section 444GA of the Corporations Act 2001. These orders grant the Deed Administrators leave to transfer all of the shares in the Company not already registered in the name of the DOCA Proponent (or such other persons as it may specify from time to time) for no consideration, as contemplated by the DOCA. The Deed Administrators are working to satisfy the remaining conditions under the DOCA. After these conditions are satisfied, the Deed Administrators intend to proceed with the transfer of the shares in the Company, in accordance with the Court's orders.

24/04/2020

As a result of the other parties electing to withdraw from the proceedings, the Court has made programming orders to determine the application for section 444GA orders on the papers at the Court's earliest availability after 22 April 2020.

15/04/2020

At the directions hearing held on 30 March 2020, the Court made programming orders providing for the filing of materials by certain parties who had entered an appearance in the proceedings and by the Deed Administrators in the coming weeks. The Court also ordered that there be a final hearing of the application at 2.15pm on 23 April 2020. The Deed Administrators advise that the proponent of the DOCA has already obtained confirmation from the Foreign Investment Review Board that the Commonwealth has no objection to the relevant transfer of shares in the Company. These recent changes are not expected to have any effect on the proponent's preexisting approval, the DOCA or the section 444GA application.

31/03/2020

At the directions hearing held today, at the request of a shareholder, the Court adjourned the hearing for one week, to 9.45am on 30 March 2020, to allow that shareholder further time to consider the materials which had been filed in support of the application.

23/03/2020

Shareholders may be aware that, in an effort to mitigate the effects of COVID-19, the Court has suspended most in person hearings listed in the coming months. Accordingly, the final hearing of the application, currently scheduled for 31 March 2020, will not proceed on that date. It is intended that the application will instead be determined on the papers. A further directions hearing will be held in the Supreme Court of Western Australia at 9.45am on Monday, 23 March 2020 to hear from those shareholders who appeared at the directions hearing on 19 March 2020, and to program the section 444GA application to a final determination on the papers.

20/03/2020

As a consequence of correspondence from shareholders regarding the increase in the price for gold, the Deed Administrators instructed SRK to review the opinions expressed in SRK's independent specialist report as to the value of the Company's mineral assets. SRK has provided the Deed Administrators with an addendum to its independent specialist report, revising the value of the Company's mineral assets in light of the increased gold price. Consequently, the Deed Administrators have also prepared an addendum to the Expert's Report. After accounting for the effect of the gold price movement on the Company's mineral reserve assets as described in the SRK Addendum, the Deed Administrators are satisfied that on each of a low, high and preferred basis, the Company's total indebtedness still exceeds its total asset value in a liquidation.

16/03/2020

The company releases an Explanatory Statement and Expert Report - Section 444GA.

26/02/2020

The DOCA was executed by the company on 21 January 2020 and lodged with ASIC as required.

29/01/2020

At the 17 January 2020 meeting, the creditors voted in favour of a resolution for the company to enter into a DOCA. On 21 January 2020, that DOCA was entered into with IMC Resources Investments. On 22 January 2020, the Deed Administrators lodged an originating process in the Supreme Court of Western Australia seeking, amongst other things, orders under section 444GA of the Act, providing for the transfer of the shares. A directions hearing was held on 28 January 2020 and the next directions hearing is scheduled for 19 March 2020 at 9.45am (Perth time). The Section 444GA Orders will not be made at this directions hearing. Shareholders are entitled to be heard in relation to the application, including at the directions hearing on 19 March 2020. If they wish to be heard by the court you must enter an appearance by 4.00pm (Perth time) on 18 March 2020. The substantive hearing, at which the Court will determine whether to make the Section 444GA Orders, will be listed as soon as possible after 27 March 2020. If the Court makes the Section 444GA Orders, then the shares will be transferred to the DOCA Proponent and/or its nominee(s) for no consideration. The Deed Administrators will make available to shareholders the Expert Report and an explanatory statement describing the section 444GA process.

29/01/2020

At the 17 January 2020 meeting of creditors, creditors resolved for the company to enter into a DOCA. The company will be required to lodge an application to the court to transfer all the shares of the company to the deed proponent upon effectuation of the DOCA for nil consideration.

17/01/2020

On 12 December 2019, the Supreme Court of Western Australia made orders granting the extension of the statutory convening period to 10 January 2020. As a result of the extension: the report to creditors will now be issued on or before 10 January 2020. and the second meeting of creditors will be held on or before 17 January 2020.

16/12/2019

Richard Tucker and John Bumbak of KordaMentha Restructuring were appointed as Receivers and Managers of the Company on 3 December 2019 by the security trustee, IMC Resources Gold Holdings Pte Ltd, pursuant to a General Deed of Security executed by the company. The effect of the appointment is that the Receivers and Managers are now in control of the company's assets, undertakings and operations. The Receivers and Managers are conducting an urgent assessment of the company's financial position but with the intention of transitioning operations into care and maintenance shortly.

04/12/2019

On 24 November 2019, the company appointed Deloitte Financial Advisory Pty Ltd partners Matthew James Donnelly and Richard John Hughes as Joint and Several Administrators of Millennium Minerals Limited.The administrators are currently undertaking an urgent assessment of the company's trading position and near-term liquidity with a view of assessing its future viability and options going forward.

24/11/2019

The following unlisted options expired on the 18 November 2019 in line with their terms and conditions: no. of options - 8,520,000; exercise price - $0.079; and expiry date - 18 November 2019.

20/11/2019

The securities of Millennium Minerals Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of MOY, pending the release of an announcement regarding an operational update.

20/11/2019

The suspension of trading in the securities of Millennium Minerals Limited will be lifted immediately following the release by MOY of an announcement regarding an announcement regarding funding.

24/05/2019

In-principle agreement reached for a $20m Mezzanine Debt Facility from Millennium's major shareholder, IMC Group, to provide interim working capital while the ramp-up of both the Bartons Underground and the sulphide plant expansion are completed. Nullagine mine plan re-optimised following previously announced delays in the ramp-up of stoping at Bartons Underground and commissioning of the Stage 1 sulphide plant. Underground production at Bartons back on track following changes to the mining sequence and introduction of additional mining equipment and personnel, with ore now being sourced from four stoping fronts on two levels. Commissioning of the Stage 1 sulphide plant expansion progressing well, with concentrator spirals successfully commissioned and gold concentrate production ramping up. Ultra-fine Grind Mills are also now in place, with final commissioning of the sulphide plant expected before the end of June, enabling production of gold doré to commence. The delays in the Bartons Underground and commissioning of the sulphide plant will restrict production in the first half of CY2019 to 34,000-36,000oz. Production in the second half is forecast to be 46,000-54,000oz, reflecting the ramp-up at Bartons and the sulphide plant. This means annual production guidance for CY2019 has been revised to 80-90koz at AISC of A$1,370-1,450/oz, compared with previous guidance of 90-100koz at A$1,300-1,375/oz.

24/05/2019

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

21/05/2019

we understand that on or about this date the company consolidated its shares 1 for 22

25/07/2013

The suspension of trading in the securities of Millennium Minerals Limited (the "Company") will be lifted immediately following receipt of an announcement by the Company regarding a capital raising. Security Code: MOY

12/03/2012

The securities of Millennium Minerals Limited (the "Company") will be suspended from quotation immediately, at the request of the Company, pending the release of an announcement regarding a capital raising. Security Code: MOY MOYOA MOYOB

08/03/2012

the suspension of trading in the securities of Millennium Minerals Limited (the "Company") will be lifted immediately following receipt of an announcement by the Company regarding a capital raising

29/08/2011

securities suspended from quotation pending an announcement about a capital raising

24/08/2011

the suspension of trading in the securities of Millennium Minerals Limited (the "Company ") will be lifted immediately, following the release of an announcement. Security Code: MOY MOYO MOYOA

17/02/2011

the securities of Millennium Minerals Limited (the "Company") will be suspended from quotation immediately, at the request of the Company, pending the release of an announcement

16/02/2011

the suspension of trading in the securities of Millennium Minerals Limited (the "Company ") will be lifted immediately, following the release of an announcement

13/10/2010

the securities of Millennium Minerals Limited (the "Company") will be suspended from quotation immediately, at the request of the Company, pending the release of an announcement

12/10/2010

the deferred securities MOYN and MOYO are suspended from quotation following the withdrawal of the non-renounceable issue

11/11/2008

name changed from Wedgetail Mining Limited

14/03/2008

ASX Announcements (courtesy of ASX)

 

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    Directors' on-market share transactions (last 5)

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    Purchases Sales

    DATEDIRECTORNATURENUMBERPRICEAMOUNT
    22/12/2015Gregory BittarOn market200,000$0.039$7,800
    28/03/2013Simon DurackOn market333,333$0.021$7,000

    Click here for the last 20 transactions all companies

    Directors & Executives (current)

    NAMETITLEDATE OF APPT
    Richard ProcterChairman, Independent Director15/02/2005
    Gregory BittarNon Exec Chairman19/03/2014
    Warren HallamManaging Director, CEO27/08/2019
    Dean WillCOO12/05/2017
    Ray ParryCFO06/11/2017
    Michael ChyeNon Exec Director30/05/2014
    Bruno LorenzonAlternate Director02/05/2016
    Pierre MalherbeCompany Secretary16/04/2010

    Date of first appointment, title may have changed.

    Directors & Executives (former)

    NAMETITLEDATE OF APPOINTMENTDATE OF RESIGNATION
    Tim KennedyNon Exec Director02/05/201611/02/2020
    Peter LesterNon Exec Director01/03/201711/02/2020
    Peter CashCEO20/03/201727/08/2019
    Stacey ApostolouCFO01/09/201706/11/2017
    Richard HillCFO09/01/201201/09/2017
    Glenn DovastonCEO18/12/201420/03/2017
    Ross GillonNon Exec Director16/06/200329/07/2016
    Brian RearNon Exec Director, CEO21/06/201331/12/2014
    Peter RoweChairman21/07/200928/04/2014
    Simon DurackNon Exec Director02/02/200930/06/2013

    Date of first appointment, title may have changed.