The company is out of Administration and handed back to directors, (ASIC - nothing to see here).
The company is unlisted on ASX, unable to pay listing fees.
Managing director and company secretary have resigned.
Gemcorp operating Lindi mine unable to find a buyer. (Maybe there is an opening here, although if it is so good why haven't they been able to find a buyer).
Under the Corporations Act the company is obliged to hold an AGM.
Seems two options available. One, is to dissolve the company and shareholders may claim capital losses.
If directors unwilling to do so, shareholders may call a general meeting to pass a resolution.
Second option is for directors and/ or T40 to vend in some tenements and seek relisting. Semi retired may wish to comment on this.
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