Dec 04, 2019

Rocklands gear goes under the hammer

Rocklands gear goes under the hammer A Zoomlion mobile hydraulic truck crane from the Rocklands site, listed in the auction catalogue.

Updated December 5

Gray’s Online has auctioned vehicles and equipment from CuDeco’s Rocklands mine near Cloncurry as receivers finalise a campaign seeking interest in the failed copper operator.

The items under the hammer in an auction ending at 7pm Queensland time December 4 included a swag of utes, as well as buses, a crane, a demountable building, a conveyor stacker, shipping containers, lighting towers, generators and pumps.

The items attracted bout $500,000 in total.

“There’s been plenty of interest,” said Grays Online Queensland manager Andrew Cotton.

“There are a lot of local buyers and also buyers from all over the country and overseas.”

The big ticket items included a 2017 Yutong automatic bus (below), which has attracted bids exceeding $140,000, and the conveyor stacker, which has passed $31,000.

Administrators Cor Cordis this week said the Australian Securities and Investment Commission had granted deferral for lodging financial reports and an extension of time to hold CuDeco’s 2019 AGM, which is now due on May 31 2020. (Details HERE)

In an update to the stock exchange this week, CuDeco administrators Cor Cordis said the receiver/managers for CuDeco were currently completing a campaign to secure interest in the company and its assets by sale or recapitalisation.

The outcome of this was expected to be known by mid-December, if not earlier, it said.

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