Voluntary administrators were appointed to Ark Mines Ltd. by the company's secured creditor, Chan Investments Ltd., according to a Sept. 25 statement.
Richard Tucker and Craig Shepard of KordaMentha were appointed to the ASX-listed gold explorer to carry out restructuring, recapitalization or the potential sale of its assets.
The administrators also started discussions with the secured creditor regarding its objectives under a potential restructure or recapitalization proposal.
Ark Mines owns gold properties in Australia's Northern Territory, including the Mount Porter and Frances Creek projects.
