Successful restructure and recapitalisation of the Adaman Resources Group
Cor Cordis delivers another major mining transaction, following the successful restructure and recapitalisation of the Adaman Resources Group.
The Cor Cordis team, led by appointees Jeremy Nipps and Barry Wight, continued to operate the mine during the voluntary administration and deed of company arrangement periods, whilst undertaking a significant CAPEX program with the support of the major secured creditor.
The restructure and recapitalisation allows the mine to continue operating as a going concern and contribute to Mount Magnet’s local economy, as well the West Australian and Australian gold production industries. The group has over 100 employees and engages a significant number of contractors.
Thank you to the team at Gilbert + Tobin, who acted for Cor Cordis throughout the trading period and the restructure and recapitalisation process.
Other advisors involved include Arnold Bloch Leibler and Pragma Lawyers, who acted for the deed proponents and the directors of Adaman Resources Group respectively. This successful restructure adds to Cor Cordis’ list of recent appointments to large/complex mining and resources matters nationally, demonstrating our ability to preserve and enhance value for stakeholders.