Potential buyers shortlisted after CuDeco collapse
The process undertaken by financial advisor Argonaut Securities was seeking offers to recapitalise and/or acquire the company or to acquire its assets.
In a market update, FTI Consulting said the receivers and Argonaut had shortlisted a number of parties to conduct further due diligence.
The interested parties would be expected to submit a final binding offer by November 15, FTI said.
Operations at CuDeco’s Rocklands copper mine at Cloncurry have been suspended since August 31 last year.
Lenders China Tonghai International Financial Limited (CTIFL) appointed three members of FTI Consulting as receivers and managers of CuDeco in July this year following a strategic review of funding and restructuring options.
The company entered into voluntary administration a week later, with Matthew Joiner and Jeremy Nipps of Cor Cordis appointed as administrators.