Lodestar Minerals Initiates Winding Up Process for Vango Mining Limited

Lodestar Minerals Limited (ASX: LSR) has taken legal action in the Supreme Court of Western Australia to initiate the winding-up process of Vango Mining Limited. Vango Mining Limited is a wholly owned subsidiary of Catalyst Metals Limited (ASX: CYL). This decision follows Vango's failure to comply with a statutory demand issued by Lodestar on June 23, 2023, amounting to AU$796,990.41.

The demand is related to outstanding payments owed to Lodestar as stipulated in the "Exploration Farm-In and Joint Venture Agreement" and "Commercial Agreement" between the two entities. Lodestar made several unsuccessful attempts to address the outstanding payment issue through discussions with Catalyst. Consequently, Lodestar has opted to pursue legal measures to address the matter through the court system.

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