{"id":262540,"date":"2020-07-01T15:18:31","date_gmt":"2020-07-01T05:18:31","guid":{"rendered":"https:\/\/southburnett.com.au\/news2\/?p=262540"},"modified":"2020-07-01T15:18:31","modified_gmt":"2020-07-01T05:18:31","slug":"offers-to-go-to-moreton-creditors","status":"publish","type":"post","link":"https:\/\/southburnett.com.au\/news2\/2020\/07\/01\/offers-to-go-to-moreton-creditors\/","title":{"rendered":"Offers To Go To Moreton Creditors"},"content":{"rendered":"
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Local residents, including John Dalton, above, have long opposed Moreton Resources’ Kingaroy mine project (Photo: KCCG)<\/figcaption><\/figure>\n

July 1, 2020<\/strong><\/p>\n

Creditors of Moreton Resources and its subsidiary companies – placed into voluntary administration on June 11 – will meet on July 6 to consider expressions of interest in acquiring the company’s assets.<\/p>\n

These assets comprise Moreton’s silver and coal interests, including the Mineral Development Lease and Exploration Permit for the proposed open cut coal mine in Kingaroy.<\/p>\n

Administrators Deloitte informed the ASX on June 26 they had begun a process to sell or recapitalise the Moreton group and were seeking urgent expressions of interest.<\/p>\n

The deadline for Deloitte to receive “Non-Binding Indicative Offers” (NBIOs) for either the recapitalisation of the group or the acquisition of its assets (in full or part) was 5:00pm on Monday.<\/p>\n

“Qualified parties will be shortlisted and provided with an opportunity to submit a final binding offer or recapitalisation proposal,” the statement to the ASX concluded.<\/p>\n

A Deloitte spokesperson confirmed on Wednesday offers had been received and would be put to the creditors’ meeting.<\/p>\n

In February, Moreton informed the ASX it had withdrawn its Mining Lease Application (MLA 700015) for the proposed Kingaroy coal mine.<\/p>\n

However, it would retain the Mineral Development Lease (MDL 385) and Exploration Permit For Coal (EPC 882) over the project area.<\/p>\n

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