IN BRIEF: NQ Minerals warns over going concern status

NQ Minerals PLC - Australian mining company - Requests shares cease trading on Aquis Stock ...

Alliance News 30 July, 2021 | 9:45PM
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NQ Minerals PLC - Australian mining company - Requests shares cease trading on Aquis Stock Exchange and any other dual trading exchanges with immediate effect as ability to continue as a going concern "now potentially in doubt".

"Following the series of resignations from the board of directors this year the current board have worked tirelessly to produce a set of accounts which correctly reflect the position of the group. With the information available to them at the moment they do not believe that they can approve the accounts for the financial year ended December 31, 2020 as there are several issues within the accounts," it says, adding that accounts will be delayed and shares suspended.

Has appointed Paul Cooper and Paul Appleton of restructuring specialists Begbies Traynor Group PLC to advise board on restructuring options as board believe company's ability to continue as a going concern is "now potentially in doubt".

In further blow, Kevin Puil has resigned as a non-executive from board, effective immediately. He is fifth director to go this year.

Says main operations in Australia will continue to operate as usual.

Current stock price: 3.35 pence

Year-to-date change: down 43%

By Lucy Heming; lucyheming@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Begbies Traynor Group PLC 137.80 GBX -1.15 -
NQ Minerals PLC

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