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Last week, KordaMentha was granted additional time by the Supreme Court of Western Australia to hold the next meeting of creditors.
It comes after administrators reported 11 unsolicited proposals to acquire the Bald Hill mine in the Goldfields.
Today, KordaMentha said it was seeking urgent expressions of interest from interested parties for a sale or a recapitalisation.
Major shareholder and creditor Galaxy Resources is supporting the process.
"Any transaction will require the support of the secured party to proceed; or alternatively the secured creditor will need to be repaid in full," KordaMentha said.
KordaMentha is seeking proposals for a sale or deed of company arrangement by November 7 and will select preferred proponents by November 8.
It aims to negotiate final proposals for consideration by creditors by November 18 ahead of a report to creditors to be issued on November 21.
Creditors will vote on the proposals on November 28, with administrators aiming to execute a DOCA by December 5.
Operations at Ball Hill were put on care and maintenance last month.
