Cor Cordis Delivers on Rocklands Copper Mine Recapitalisation

When the Rocklands Copper Mine in Cloncurry, Queensland faced significant financial and operational challenges in November 2024, Cor Cordis, led by Tom Birch along with Jeremy Nipps and Stephen Earel, were appointed Voluntary Administrators and immediately tasked with stabilising the operations and engaging with key stakeholders to preserve the mining leases and critical infrastructure at the start of the wet season and while a recapitalisation / restructuring plan was developed and implemented.

Working with Argonaut and Thomson Geer we secured a court-approved convening period extension of 6-months and A$5m funding facility that provided the Administrators with sufficient time and working capital to complete a robust sale process and address plant decommissioning, operational restart optimisation, and mining resource evaluations.

Cor Cordis successfully effectuated a share sale through a Deed of Company Arrangement with ASX-listed Austral Resources Ltd on 24 October 2025 for consideration of A$27M. The Rocklands Copper Mine is now a key part of Austral’s regional consolidation strategy and is now positioned for growth, capital investment, and continued local employment.

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