Latest Creditors News

MPower Group has entered a binding agreement to sell its renewable energy assets and platform to Wollemi Energy Group for approximately $19 million, marking a pivotal shift in its business strategy.

Freehill Mining Ltd reported a challenging quarter ending June 2025 with net cash outflows from operations, but anticipates improved revenues from its Chilean operations as it ramps up activity.

Mineral Commodities Ltd faces ongoing delays in the sale of its Skaland Graphite asset amid partial payments and defaults, while advancing negotiations to fully acquire the Munglinup Graphite Project. Operational challenges and financial pressures underscore a pivotal phase for the company’s battery minerals strategy.

Openn Negotiation Limited reported a $245k net cash outflow from operations in Q1 2025, offset partially by $211k in financing activities, leaving the company with just $6k in cash. The company depends on interest-free loans from its major shareholder to sustain operations amid limited liquidity.

Bowen Coking Coal has appointed voluntary administrators after failing to secure fresh capital or negotiate with key creditors, reflecting mounting challenges in Queensland's coal sector. The administration aims to enable a sale or recapitalisation while maintaining operations at its Burton Mine Complex.

My Foodie Box Ltd reported a $1.39 million profit for FY24 following the sale of its meal kit business to MFB (WA) Pty Ltd, receiving a 40% stake and vendor financing arrangements. The company now seeks new assets to restore shareholder value amid ongoing financial uncertainties.

Resource Development Group, majority-owned by Mineral Resources, has entered voluntary administration after a funding request was declined. Mineral Resources plans to support the process but will record a significant impairment in FY25.

Mineral Resources Limited’s majority-owned Resource Development Group has entered voluntary administration, prompting MinRes to prepare for a significant non-cash impairment in its FY25 results. The unfolding administration process raises questions about the future of RDG and its impact on MinRes shareholders.

Resource Development Group Limited and its subsidiaries have appointed voluntary administrators, continuing operations while exploring sale or recapitalisation options with backing from majority shareholder Mineral Resources Limited.

Saferoads Holdings reports a $192k operating cash use impacted by strategic prepayments, completes its Road Safety Rentals asset sale, and maintains strong cash reserves after paying a substantial dividend.

Mount Burgess Mining NL has secured agreements to extinguish nearly $4.7 million in legacy debt, converting a small portion into equity and options, positioning the company for renewed growth.

Openn Negotiation Ltd has successfully exited voluntary administration following creditor approval of a recapitalisation plan, supported by an interest-free loan from its major shareholder. Despite no substantive business activity this quarter, the company now has over two quarters of funding runway.