Calidus Resources Names Receivers amid Financial Challenges

Calidus Resources Limited (ASX: CAI) and its subsidiaries have named Richard Tucker and John Bumbak of KordaMentha as Receivers and Managers following the appointment of Voluntary Administrators by Calidus' Board of Directors on June 28, 2024, by Macmahon Holdings Limited (ASX: MAH). As of June 28, 2024, Macmahon has a net current exposure of about AU$33.9 million to Calidus at the Warrawoona mine, plus an additional AU$5.7 million in Calidus equity shares.

Following urgent talks with stakeholders, Macmahon, the receivers, and the managers have pledged to support the process. To avoid further exposure, Macmahon was assured that its services are still needed throughout the receivership. This reassurance of support is aimed at making Macmahon Holdings Limited feel secure and confident. These services are managed through purchase orders and payments. Macmahon will monitor the circumstances and make updates as needed.

Customer Notice:

Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.

Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com