LEADERSHIP

New Metals X board pulls pin on Nifty

THE new board at Metals X has pulled the pin on the Nifty, with the closure of the copper operation set to result in 290 staff losing their jobs and the company outlaying A$35 million to pay creditors and put the mine on care and maintenance.

 2119863-1-eng-GB-nifty-underground.jpg

2119863-1-eng-GB-nifty-underground.jpg

Metals X said it "remains in a sound financial position" with estimated cash at the end of November 2019 of some $45 million excluding cash-backed bonds of $11 million.    The company is carrying $35...

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