CAPITAL MARKETS

Sons of Gwalia in administration

SONS of Gwalia, the Australian mining company credited as being amongst the first to employ gold hedging on a grand scale, has gone into administration after a review of its gold operations raised concerns about its ability to meet its hedge commitments.

Michael Quinn
Sons of Gwalia in administration

The company said that the decision to go into voluntary administration was taken after it was unable to gain unanimous support from creditor counterparties for a “standstill agreement” – to allow a reorganisation...

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