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Administrators start sale process for Ark Mines' assets, ASX listing

The administrators for Ark Mines Ltd. have started a sale process for the company's assets, as well as its ASX listing.

The assets include the mining tenements held in the Glencoe, Mount Porter and Frances Creek gold projects in Australia's Northern Territory.

The data room opened Oct. 9, and final proposals are scheduled for Oct. 22.

Voluntary administrators were appointed to Ark Mines in late September by the company's secured creditor, Chan Investments Ltd., to carry out restructuring, recapitalization or the potential sale of its assets.