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Triton emerges from administration

Triton Minerals Ltd. directors took back control of the company from administrators after creditors accepted the struggling junior Australian graphite explorer's deed of company arrangement.

The ASX-listed company said Sept. 23 that a creditors' trust deed has been executed, and a trust fund of A$5.0 million has been transferred to deed administrators, who will act as trustees under the deed of company arrangement.

The company, which revealed the appointment of voluntary administrators in March, has arranged a placement to Minjar Gold Pty. Ltd. to raise A$6.3 million and is also looking to undertake a A$7.9 million entitlement issue.

Triton revealed three days earlier that Peter Canterbury will take over from Garth Higgo as managing director.