Padbury Mining has appointed Steinepreis Paganin to review the company's corporate governance policies in the wake of its failed equity funding deal to construct a port and rail network at Oakajee.
Shares in junior explorer Padbury Mining have plunged as the company resumed trade and revealed details of its short-lived $US6.47 billion ($6.89 billion) equity funding deal to construct a port and rail network at Oakajee.
Less than three weeks after announcing it had secured $US6.47 billion ($6.89 billion) in equity funding to construct a port and rail network at Oakajee, junior explorer Padbury Mining says the deal is now dead.
Padbury Mining has confirmed the identity of its mysterious wealthy backer as hair regrowth businessman Roland Bleyer but has again called for more time before it can disclose details of the funding arrangement.
23 Apr 2014
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