Key Developments: Kagara Ltd (KZL.AX)

KZL.AX on Australia Stock Exchange

20 Apr 2012
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Latest Key Developments (Source: Significant Developments)

Red River Resources Ltd announces acquisition of Kagara Limited assets
Wednesday, 16 Jul 2014 09:00pm EDT 

Red River Resources Ltd:Says that it has entered into a binding Exclusivity Agreement with Kagara Limited and its wholly owned subsidiary Kagara Copper Pty Ltd under which certain assets in Queensland owned by Kagara and Kagara Copper would be sold to Red River.Says the completion of the sale and purchase is conditional on satisfaction of certain conditions precedent and execution of a legally binding sale and purchase agreement.The consideration payable is for the Southern Region Assets is A$6.5 million.  Full Article

Mungana Goldmines Ltd enters into sale agreement with Kagara Ltd
Monday, 17 Feb 2014 10:10pm EST 

Mungana Goldmines Ltd:Says on Dec 30, 2013 Mungana Goldmines had signed a binding heads of agreement with Kagara Ltd (in Liquidation) and its wholly owned subsidiary Mungana Pty Ltd (in Liquidation) under which the Chillagoe assets in North Queensland owned by KZL and MPL will be sold to Mungana.Mungana Goldmines, Kagara and Mungana Pty have now entered into a sales agreement in respect of the Northern Assets on terms consistent with the Heads of Agreement.The timing of the meeting and completion depends on the satisfaction of other conditions under the Heads of Agreement and Sale Agreement.  Full Article

Kagara Ltd enters binding heads of agreement with Mungana Goldmines Ltd
Sunday, 29 Dec 2013 01:01am EST 

Kagara Ltd:Says together with its wholly owned subsidiary Mungana Pty Ltd enters into a binding Heads of Agreement (HOA) with Mungana Goldmines Limited (MUX) for the sale of the Companies’ interest in the mining projects located near Chillagoe in far North Queensland.Says this transaction follows a lengthy campaign for the sale of the Companies’ assets.  Full Article

Kagara Ltd announces liquidation
Tuesday, 10 Dec 2013 01:35am EST 

Kagara Ltd:Says the company and its subsidiary, Mungana Pty will be placed into liquidation on Dec.16.  Full Article

Kagara Ltd Fined by Cairns Magistrates Court
Thursday, 21 Nov 2013 04:02am EST 

Kagara Ltd announced that it was fined AUD 120,000 in the Cairns Magistrates Court following breaches of the Queensland Environmental Protection Act 1994. The breaches occurred at the Baal Gammon Copper Mine in North Queensland during the 2011 and 2012 wet season, prior to Kagara going into voluntary administration. Following a rain event, there was unintended overflow of mine affected water into the neighbouring Jamie Creek and Walsh River. At the relevant time, the Baal Gammon Copper Mine was operated by Kagara. Kagara no longer operates that mine.  Full Article

Mungana Goldmines Ltd Announces Agreement To Terminate Heads of Agreement With Kagara Limited
Tuesday, 12 Mar 2013 06:59pm EDT 

Mungana Goldmines Ltd (MUX) announced that the Company, Kagara Limited (administrators appointed) (ASX: KZL) and its subsidiary, Mungana Pty Ltd (administrators appointed) (MPL) have agreed to terminate the Heads of Agreement (HOA) between them that was announced on November 26, 2012. On February 21, 2013, MUX announced that it had received a private ruling from the ATO which does not confirm the full availability of tax losses to offset any tax liability arising from the HOA transactions. As a result of this failure of a key condition to the HOA, MUX, KZL and MPL have agreed to terminate the HOA with effect immediately.  Full Article

Kagara Ltd's Subsidiaries Sells Group Assets In North Queensland Central Region
Sunday, 16 Dec 2012 05:12pm EST 

Kagara Ltd announced that the Company and one of its wholly owned subsidiaries, Einasleigh Mining Pty Ltd (Administrators Appointed) have entered into an agreement for the sale of the Group’s assets in the North Queensland Central region for a total consideration of AUD 40 million, including the assumption of AUD 10.7 million of environmental bonds. The purchaser is Snow Peak Mining Pty Ltd (the Purchaser), which is a company associated with Consolidated Tin Mines Limited (ASX: CSD). A AUD 4 million deposit has been paid by the Purchaser and is being held by a stakeholder agent pending completion. Completion of the transaction is conditional on FIRB approval and indicative approvals to transfer certain mining tenements. It is anticipated that completion of the sale will occur in late January 2013.  Full Article

Kagara Ltd Announces Chief Executive Officer Change
Tuesday, 4 Dec 2012 03:43am EST 

Kagara Ltd announced that Mr. Geoff Day has ceased in the role of Chief Executive Officer. Mr. Day will remain a Director of the Company.  Full Article

Kagara Ltd Signs Agreement With Mungana Goldmines Limited To Terminate Gold Rights Agreement
Monday, 26 Nov 2012 01:43am EST 

Kagara Ltd announced that the Company and its wholly owned subsidiary, Mungana Pty Ltd (MPL), have signed a binding Heads of Agreement with Mungana Goldmines Limited (MUX) to terminate the Gold Rights Agreement dated April 16, 2010, between the parties (the GRA). Under the terms of the GRA, MUX was granted the rights to gold exploration, development and mining of gold ore bodies within Company's far north Queensland tenements in the Chillagoe region, approximately 210 kilometers west of Cairns. Whilst the GRA gave MUX rights to jointly access the tenements, the tenements have remained owned by the Company and MPL.  Full Article

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