General News

27 November, 2023

Liquidity goes out of Inglewood mine

EQUIPMENT at the idle Maxwell Gold Mine in Inglewood is expected to be sold. MG Gold had administators appointed earlier this year followed by a meeting where creditors voted to wind up the company. The Inglewood site has both mining and exploration...

EQUIPMENT at the idle Maxwell Gold Mine in Inglewood is expected to be sold.
MG Gold had administators appointed earlier this year followed by a meeting where creditors voted to wind up the company.
The Inglewood site has both mining and exploration licences but has been idle for several years.
In 2021, Maxwell Gold said it had de-watered the mine to 210 metres, the third of five levels with plans to resume mining in 2022.
However, activity did not resume and moves to put the company into administration started in February.
Staff from major auction company Lloyds have assessed equipment at the Powlett Plains Road site over the past month.

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