ITSNOLIFE
18 Nov 2014
Re: Peter Landau Copied from a post on AGQ todayAnother silver producer collapsesMining NewsPremium.net, 18 Nov. 2014, Kristie BattenAlcyone Resources has collapsed into receivership after attempts to obtain funding failed. Grant Sparks, Michael Owen and Simon Theobald of PPB Advisory were appointed as joint receivers of the company and its operating subsidiary. “We are currently working with management and the board to determine the future of the companies,” Theobald said. Alcyone had been working on obtaining funding its Texas silver project for almost a year. In March, the company was thrown into turmoil when a $A25 million funding deal was withdrawn by global hedge fund Platinum Partners. The same deal would have seen Alcyone secure the Red Hill gold and silver mine in the United States and further diversify by taking a $3 million stake in ASX-listed silver hopeful Black Mountain Resources.
