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Administrators appointed to ASX-listed Ark Mines

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.