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WPG RESOURCES LTD (WPG)

Delisted from ASX 03/02/2020

SHARE PRICES

(updated at weekends)

Former (or subsequent) names

 FROMTO
WPG RESOURCES LTD08/09/2010
WESTERN PLAINS RESOURCES LTD01/12/200608/09/2010
WESTERN PLAINS GOLD LIMITED01/12/2006

Shareholder links

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

 

REGISTRY:
Boardroom Pty Ltd, Level 12, 225 George Street, Sydney NSW 2000
Tel : +61 2 9290 9600 or 1300 737 760
Fax : +61 2 9279 0664 or 1300 653 459
RegistryWebsite RegistryEmail

Company details

ISIN: AU000000WPG2
Address: Level 9, Kyle House, 27-31 Macquarie Place, SYDNEY, NSW, AUSTRALIA, 2000
Tel:  (02) 9251 1044 Fax: (02) 9247 3434

Date first listed: 23/08/2005
Company Secretary: Ian White
Sector: Materials
Industry Group: XMJ
Activities: The Company is focused on developing iron ore projects in South Australia

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 25 June 2020)

30/06/2020

Adam Nikitins of Ernst & Young is appointed Joint and Several Liquidator

25/06/2020

delisted from the commencement of trading on 3 February 2020 pursuant to Listing rule 17.12.

03/02/2020

we understand this company failed and ASX removed the company from listing because its securities have not been quoted for more than three years

03/02/2020

ASIC has now extended the period within which WPG must hold its 2019 AGM to two months after the conclusion of the Extension Period.

14/11/2019

The company releases a Report to Members - 4 March 2019 to 3 September 2019.

03/10/2019

On 25 July 2019, the Federal Court granted orders extending the period for the execution of the DOCA from 15 business days to 16 business days. The DOCA proposed by Wilson International was executed on 19 July 2019.

29/07/2019

On 18 July 2019, the administrators and Wilson executed a DOCA in line with the DOCA 2 proposal. The administrators of WPG Resources are now the deed administrators. The executed DOCA contemplates a recapitalisation of the company and is required to be approved by shareholders. A creditors' trust will be established.

23/07/2019

At the second meeting of creditors on 27 June 2019, the creditors voted to execute the DOCA proposed by Wilson International Capital Limited. DOCA 2 requires approval by shareholders and following the preparation of its financial reports, WPG Resources will convene a general meeting of shareholders for this purpose.

04/07/2019

The administrators have finalised their supplementary report to creditors. This details the respective DOCAs that have been proposed and convenes the adjourned second meeting of creditors for 27 June 2019, at 1:00PM (ACST), 1:30PM (AEST) at Stamford Plaza, 150 North Terrace, Adelaide, SA,5000.

21/06/2019

The Administrators convened the second meeting of creditors for WPG Resources Limited on Monday 6 May 2019. Administrator Brett Lord adjourned the meeting for WPG Resources Limited for not more than 45 business days in order to consider two additional Deed of Company Arrangement received only a short time before the Second Meeting. The Administrators advise that creditors of the subsidiaries of WPG Resources Limited, formerly constituting the WPG Group, resolved to place each of the subsidiaries into liquidation at the Second Meeting.

21/05/2019

The administrators have finalised their second report to creditors which outlines the financial position of WPG Resources, provides details of the investigations undertaken details the respective DOCAs that hvae been proposed and convenes the second meeting of creditors for Monday, 6 May 2019 at 1:00PM (ACST), 1:30PM (AEST) at Terrace 1, Stamford Plaza, 150 North Terrace, Adelaide, SA, 5000.

26/04/2019

ASIC has now extended the period within which WPG must hold its 2018 AGM to two months after the conclusion of the Extension Period. This extension does not apply to WPG's 2019 and subsequent AGMs which will be separately addressed. The purpose of this extension is to align WPG's 2018 AGM with the financial reporting relief previously granted.

26/03/2019

The voluntary administrators have been granted a further extension of time for the convening of the second creditors meeting until 29 April 2019. ASIC has also granted WPG Resources and its subsidiary companies of Challenger Gold and Tarcoola Gold relief from their financial reporting obligatons until the earllier of: 31 January 2021; the date on which a disclosure document is lodged in relation to any offer for issue or sale of securities that needs disclosure to investors; the date on which WPG is reinstated to quotation; the date that the companies cease to be under external administration; or the date on which a liquidator is appointed in relation to the companies.

07/03/2019

At the Tarcoola Gold Mine, mining activities ceased on 24 September 2018 with all staff and contractors demobilising from site by 19 October 2018. SA Mining Services has been engaged to manage the ongoing maintenance of the mine and its improvements. For Challenger Gold Mine, mining activities ceased on 8 October 2018 with staff and contractors demobilised from site by 25 October 2018. Again, SA Mining Services has been engaged to manage the ongoing maintenance of the mine and its improvements. Argonaut Capital Limited have been appointed to assist the Receivers and Managers in the sale of specific assets, restructuring and/or recapitalisation of WPG. The Receivers and Managers are seeking expressions of interest by 5pm (AWST) on 4 December 2018.

27/11/2018

The company applied to, and was granted by, the ASIC for an extension of time in which it must hold its 2018 AGM. The effect of this extension is that the Company will now hold its 2018 AGM on the earlier of: 30 March 2019; or 2 months after the Company ceases to be under external administration.

26/11/2018

Campfire Bore shallow supergene drilling confirms high grade intercept from 12m below surface. Best Intersections include: 18CBRC015: 15m @ 3.02 g/t gold from 36m inc 6m @ 5.13 g/t; 18CBRC034: 12m @ 1.58 g/t gold from 39m; 18CBRC035: 7m @ 2.19g/t gold from 12m inc 1m @ 11.6 g/t; and 18CBRC002: 2m @ 5.33 g/t gold from 39m. 35 Holes completed for 1,989 metres ( 18CBRC001-18CBRC035 ). All RC results received and Resource Model to be upgraded.

17/10/2018

The administrators applied to the Federal Court for an extension of the convening period and were granted an extension of 6 months to 28 February 2019. The Receivers have continued to trade the mining operations located at Challenger and Tarcoola and are now preparing to implement a care and maintenance program. Mining ceased at Tarcoola on 24 September 2018 and is intended to cease at Challenger on 8 October 2018. Thereafter an orderly demobilisation will occur from the two mine sites. The Receivers have appointed an advisor to assist with formulating a marketing sales strategy for the assets of the group of companies.

25/09/2018

The company lodges its Quarterly Cashflow Report.

25/09/2018

Directors of Tyranna Resources Limited as manager of the Western Gawler Craton Joint Venture which includes WPG Resources Ltd and Coombedown Resources Pty Ltd are pleased to announce the commencement of RC drilling at the Campfire Bore Gold Prospect, located approximately 40km north of the Challenger Gold Mine and part of the larger Jumbuck Gold Project in the Northern Gawler Block of South Australia.

20/09/2018

Under Listing Rule 17.6, any entity (if not already suspended) that has not paid its annual listing fees by close of business on Tuesday, 21 August 2018 will have its securities suspended from official quotation before the commencement of trading on Wednesday, 22 August 2018. In accordance with Listing Rule 16.5, entities that pay their annual listing fees after Tuesday, 21 August 2018 must pay by bank cheque only. Under Listing Rule 17.15, any entity that has not paid its annual listing fees as required by Listing Rule 16.5 by 5.00 pm AEST on Tuesday, 28 August 2018 will be removed from the Official List with effect from the close of trading on Tuesday, 28 August 2018.

22/08/2018

As of 9:00am, each of Mr Gregory Dudley, Mr Jonothan Colbran and Mr Richard Stone, of RSM Australia Partners, were appointed as Joint and Several Receivers and Managers to each of the companies within the Group. The Receivers have taken immediate possession of all relevant assets of the Group and are in charge of all operating activities. The Receivers are also in communications with the Administrators to ensure an efficient transition of the operations of the Group.

08/08/2018

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.

06/08/2018

Following the withdrawal of a key prospective investor from discussions with the Company, it has become clear to the Company that it can no longer meet the conditions in the term sheet it entered into with the Byrnecut Entities previously disclosed to the market. The directors have resolved that the company is insolvent or is likely to become insolvent at some future time. The company today appointed Adam Nikitins, Brett Lord and Samuel Freeman of Ernst & Young as joint and several administrators. The other companies in the Group have also appointed these persons as administrators.

30/07/2018

The Company requires additional time to complete its discussions and prepare an announcement on the recapitalisation and restructuring of its business and therefore requests that the voluntary suspension be further extended until the earlier of the commencement of trading on Wednesday 5 September 2018 or when the announcement is released to the market.

25/07/2018

Tyranna increases ownership of Western Gawler Craton Joint Venture. Tyranna and WPG agree to commence discussion of ore processing terms. Drill rigs and team to mobilise to site mid-August. Campfire Bore gold infill drilling in preparation for feasibility study. South Hilga gold prospect to be drilled for the first time by Tyranna. Tyranna will be sole funding the joint venture exploration program.

20/07/2018

Superb assays have been returned from the latest Near Pit Reverse Circulation drilling conducted during June 2018 on the Tarcoola Mining Lease. The assay results received for these holes range from <0.005 to 58.40 g/t gold and are the finest to date outside the Perseverance Pit completed by WPG.

18/07/2018

Gold recovery in the month of June of 7,155 ounces and in the June quarter of 17,818 ounces were both records since mining operations commenced under WPG's ownership two years ago. Production for the full year ending 30 June 2018 was 54,338 ounces of gold "“ again a record. Gold production at Tarcoola in June was significantly lower than forecast due to the displacement of a high grade ore pod by an unmapped thrust fault. Grade control drilling for the final benches at Tarcoola has now been completed. Capital development on the Jumbuck decline has ceased pending the results of ongoing resource definition drilling and any successful refinancing discussions.

12/07/2018

As part of the Recapitalisation Discussions, the Company and CGO have entered into a forbearance term sheet with key stakeholders in its business, including with Byrnecut Australia Pty Limited and Byrnecut Offshore Pty Limited. Under the forbearance term sheet the Byrnecut Entities have granted extensions to the dates of payment of unsecured debt obligations of the Company and its trading subsidiaries during the forbearance period. Scheduled payments under the secured financing arrangement will continue to be paid. The Byrnecut Entities have undertaken not to take enforcement action against the Group during the forbearance period. The forbearance period will continue until the earlier of 28 August 2018 and the implementation of a recapitalisation of the Group.

11/07/2018

The Company requires additional time to complete its discussions and prepare an announcement on the company's recapitalisation and restructuring and therefore requests that the voluntary suspension be extended until the earlier of the commencement of trading on Wednesday 25 July 2018 or when the announcement is released to the market.

04/07/2018

The securities of WPG Resources Ltd 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 outcome of discussions in relation to recapitalisation of its business or restructure of its operations.

27/06/2018

The suspension of trading in the securities of WPG Resources Ltd will be lifted immediately, following the receipt of an announcement providing an update on funding.

05/12/2017

The fundraising options are progressing, but more slowly than anticipated, and there is no certainty that funding will be completed. The company has one indicative term sheet for a $20 million facility that it expects to progress to a binding commitment capable of being accepted later this week.

05/12/2017

The securities of WPG Resources Ltd will be suspended from quotation immediately, at the request of the Company, pending the release of an announcement in relation to funding

30/11/2017

The suspension of trading in the securities of WPG Resources Ltd will be lifted immediately following the receipt of an announcement regarding a capital raising.

13/06/2017

The company finalised the $7.2 million placement to sophisticated and professional investors.

13/06/2017

The securities of WPG Resources Ltd will be suspended from quotation immediately, at the request of the Company, pending the release of an announcement regarding a capital raising.

08/06/2017

we understand that on or about this date the company made a capital return of 42 cents per share

02/11/2011

name changed from Western Plains Resources Ltd

08/09/2010

ASX Announcements (courtesy of ASX)

 

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website is http://wpgresources.com.au/

08/03/2018 09:20:17

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    Directors' on-market share transactions (last 5)

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    Purchases Sales

    DATEDIRECTORNATURENUMBERPRICEAMOUNT
    20/06/2017Helen Wiseman200,000$0.048$9,600
    06/12/2016Helen Wiseman70,000$0.070$4,900
    05/05/2015Len DeanOn market500,000$0.032$16,000
    04/12/2014Martin JacobsenOn market250,000$0.040$10,000
    27/11/2014Len DeanOn market100,000$0.040$4,000

    Click here for the last 20 transactions all companies

    Directors & Executives (current)

    NAMETITLEDATE OF APPT
    Wayne RossiterCEO29/05/2013
    Heath RobertsDirector07/06/2004

    Date of first appointment, title may have changed.

    Directors & Executives (former)

    NAMETITLEDATE OF APPOINTMENTDATE OF RESIGNATION
    Robert DuffinExecutive Chairman07/06/200416/01/2019
    Lim YongNon Exec Director20/08/200716/01/2019
    Cornel ParshotamNon Exec Director, COO01/07/201603/12/2018
    Helen WisemanIndependent Director20/10/201612/11/2018
    Gary JonesDirector07/06/200428/11/2017
    Dennis MuttonNon Exec Director20/08/200722/03/2017
    Martin JacobsenManaging Director, CEO12/04/201219/12/2016
    Len DeanNon Exec Director20/08/200730/11/2016
    Greg HardingCFO20/08/200729/05/2013
    Robert RichardsonNon Exec Director03/11/200423/11/2011

    Date of first appointment, title may have changed.