Centennial Mining Ltd. said March 22 that it appointed Richard Tucker, John Bumbak and Leanne Chesser of KordaMentha Restructuring as voluntary administrators of the company and unit Maldon Resources Pty. Ltd.
The company said in February that it might go into voluntary administration if its other stakeholders did not approve a recapitalization plan the company was pursuing with shareholder Octagonal Resources Pty. Ltd.
The administrators are now in discussions with potential investors to secure funding to allow the company to continue trading while they pursue a recapitalization plan through a deed of company arrangement.