JOHANNESBURG (miningweekly.com) – Embattled Rockwell Diamonds, which earlier this week filed for business rescue, on Friday said it would seek to move its listing from the TSX to the TSX-V, owing to its current market capitalisation.
The company said its shares on the TSX and JSE would remain halted while there remains uncertainty over the outcome of the hearing on the merits of the liquidation application against its three subsidiaries, Rockwell Resources, HC van Wyk Diamonds and Saxendrift Mine.
The company further noted that its urgent request to bring the date forward to consider the merits of the liquidation case brought by C Rock Mining, which it filed in the Kimberley court, has been moved to April 26.
At the time the interim liquidation order was issued, the date for the final hearing was originally scheduled for June 22. The application for urgency was to be heard on April 19; however, C Rock Mining filed a rebuttal affidavit against the Saxendrift affidavits late in the afternoon on April 18.
The miner will be filing a rebuttal affidavit to C Rock Mining’s latest filing before April 26.
The hearing next week is only to set a date for the court hearing on the merits, and this date is expected to be set down for early in May.
Edited by: Chanel de Bruyn
Creamer Media Senior Deputy Editor Online
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