Macmahon Holdings has announced it will work with its team stationed at Calidus Resources’ site to find them new opportunities.
The news comes after Calidus made the decision to call in administrators earlier this month.
Calidus appointed Hayden White and Daniel Woodhouse of FTI Consulting as administrators and Richard Tucker and John Bumbak of KordaMentha as receivers and managers.
“The receivers and managers are undertaking an urgent assessment of the operations and will shortly be commencing a dual-track recapitalisation and sale process for the group,” a statement from KordaMentha said.
“In this regard, the receivers have held urgent discussions with key stakeholders who have communicated their intention to support the process being undertaken.”
Macmahon currently has a team at Calidus’ Warrawoona gold project in East Pilbara, Western Australia.
“The receivers and managers stated the transition to care and maintenance will be undertaken over a period of three weeks, pursuant to a detailed plan to ensure that value is preserved in all of Calidus’ fixed assets,” a statement from Macmahon said. “In parallel to the care and maintenance plan, the dual-track recapitalisation and sale process for Calidus has commenced.
“Macmahon is in discussions with the receivers and managers about the ongoing services required at Warrawoona and the impact to our team and operations.
“Our people are our most valued asset and Macmahon will work with its team at Warrawoona to find suitable opportunities across the business.”
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