The Panel today published the reasons for its decision on a review application dated 11 April 2016 from ABM Resources NL in relation to its affairs.
Details of the Panel's decision can be found at TP16/26.
The Panel's reasons for its decisions are on the Panel's website.
The sitting Panel was Richard Hunt (sitting President), Ian Jackman SC and Sophie Mitchell.
The Panel made a declaration of unacceptable circumstances and final orders on 11 March 2016 regarding an application dated 15 February 2016 from Metro Mining Limited in relation to the affairs of Gulf Alumina Limited (see TP16/08 and TP16/15).
The Panel’s orders were varied on 21 March 2016 (see TP16/16), 1 April 2016 (see TP16/18) and 12 April 2016 (see TP16/22).
The President of the Panel has made an interim order1 in response to an application for interim orders dated 1 May 2016 from Mr Joshua Farquhar in relation to the affairs of Condor Blanco Mines Limited.
The interim order prevents Condor Blanco from registering any transfer in respect of any of the 50,000,000 ordinary shares placed in escrow that are referred to in its announcement dated 1 March 2016.
The Panel has received an application from Mr Joshua Farquhar in relation to the affairs of Condor Blanco Mines Limited.
Details of the application, as submitted by the applicant, are below.
A sitting Panel has not been appointed at this stage and no decision has been made whether to conduct proceedings. The Panel makes no comment on the merits of the application.
Condor Blanco has made the following announcements regarding the issue of shares:
The review Panel has affirmed the decision of the initial Panel in ABM Resources NL (see TP16/19). In that matter, the Panel concluded that ABM's 3 for 5 non-renounceable rights issue was unacceptable because (among other things) all reasonable steps to minimise the likely control effect of the rights issue had not been taken. The initial Panel made an order that ABM must not proceed with the rights issue.
On 11 April 2016 ABM sought a review of the initial Panel's decision (see TP16/21).
The Panel today published the reasons for its decision on an application dated 10 March 2016 from APAC Resources Capital Management Limited in relation to the affairs of ABM Resources NL.
Details of the Panel's decision can be found at TP16/19.
The Panel's reasons for its decisions are on the Panel's website.
The sitting Panel was Byron Koster, Denise McComish and Vickki McFadden (President).