Blackwood shares tumble after wind-up order against Tinkler company
SYDNEY Nov 20 (Reuters) - Shares in Australian junior coal miner Blackwood Corp Ltd fell 25 percent on Tuesday after liquidators were appointed to a company owned by struggling mining magnate Nathan Tinkler to recover A$28.4 million ($29.6 million) owed to Blackwood.
Blackwood sought wind-up orders against Mulsanne Resources Pty Ltd after talks failed to reach a deal for the payment of outstanding funds.
Tinkler had agreed to purchase a one-third stake in Blackwood, but failed to make the payment.
Shares in Blackwood were down 25 percent at A$0.135 at 1202 GMT. (Reporting By Jane Wardell; Editing by Richard Pullin)
- Alabama man gets $1,000 in police settlement, his lawyers get $459,000
- Doctor with Ebola in New York stable; nurse is virus-free
- New York police officer critically wounded in hatchet attack |
- Putin accuses United States of damaging world order
- Exclusive: Charred tanks in Ukraine point to Russian involvement