Bass Metals resumes trading
Posted March 27, 2012 12:12:00
Related Story: Mine future in doubt Photo: Bass Metals' Hellyer mine will go into care and maintenance mode from May. (Intec Ltd)
Map: Rosebery 7470 West Australian mining company Bass Metals has lifted its trading halt, 10 days after announcing it would downscale operations at its north-west Tasmanian mine.
Bass told the stock exchange it had reached a debt repayment agreement with creditor RMB Australia holdings.
Bass owes a secured debt of $20.4 million to RMB and has an unsecured liability of almost $10 million.
This month, Bass Metals posted a first half loss of $46 million and has been in a trading halt since the end of January.
Bass Metals' Hellyer mine will go into care and maintenance mode from May, and expects to shed up to 70 of its 80 workers at the site. Topics:mining-industry, rosebery-7470, tas
More stories from Tasmania |