Out of 14 companies, three mining companies have been delisted from the Australian Securities Exchange (ASX) due to not paying annual listing fees for the year ending 30 June 2025.
Tombola Gold (ASX:TBA), Panoramic Resources (ASX:PAN), and Asaplus Resources (ASX:AJY) have all been removed from the official list of the ASX for not making the necessary payment by 28 August 2024, along with the 11 others on the list.
Alongside other companies such as Booktopia, mining services company Elmore (ASX:ELE) has also been removed from the official list.
Tombola Gold is an Australian explorer focused on copper and gold. Administrators were appointed to the company in May 2023 and a deed of company arrangement (DOCA) was reached in November 2023.
However, administrators were still working to implement the DOCA in the June quarter of this year.
Nickel-copper-cobalt miner Panoramic Resources was placed in administration late last year, with operations at its Savannah Mine in the East Kimberley region of Western Australia suspended following the continued decline of the nickel price.
Voluntary administrators FTI Consulting opted not to pay the listing fees given the company’s status, the costs and administrative burden of remaining listed.
Shares in Panoramic were suspended from quotation on 17 November 2023 and shareholders have
been unable to trade or transfer shares since then.
FTI says it is in advanced negotiations with an interested party regarding a Deed of Company Arrangement proposal.
Meanwhile, Asaplus Resources is an explorer focused on discovering, mining, and marketing various materials in China. The company was suspended from trading in November 2023 and had been working on a plan to recapitalise and seek re-quotation on the ASX.
In early February 2024, mining processing services contractor Elmore was placed in administration after it was deemed insolvent or likely to become insolvent at some time in the future. KPMG was appointed as voluntary administrators. KordaMentha was subsequently appointed as receivers and managers.
Write to Aaliyah Rogan at Mining.com.au
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