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Magellan fights insolvency risk

THE owners of the controversial Magellan lead operation in Western Australia are looking to secure $C20 million ($A19.48 million) in a private placement that could effectively hand over control of the company, which is at risk of becoming insolvent by the end of the month.

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Magellan fights insolvency risk

Ivernia Inc, the parent of Magellan Metals, has struck a deal with Green SEA Resources Inc to undertake a private placement of 93.37 million 21.42c shares. The placement may include certain institutional...

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