Miner with Tinkler link in a hole

Receivers were appointed to Nathan Tinkler-linked Aston Metals Group after Mr Tinkler failed to pay off debts related to the mining company. The action followed a number of notices over the previous 30 days requesting payment as per the rights of the secured creditor.

Madison Pacific Trust Ltd, acting as security trustee, appointed receivers John Park and Quentin Olde of FTI Consulting to take control of Aston Metals' secured property.

The receivers were appointed by the security trustee over all the secured property of Aston Metals, meaning the receivers have been placed in charge of assets that are subject to the secured creditor's rights.

Aston Metals is an unlisted copper explorer with tenement holdings in the Mount Isa region of north-west Queensland. Its primary focus is the Walford Creek copper, lead and zinc deposit.

A spokesman for the Tinkler Group described Aston Metals as a "dormant, speculative investment" held by the group and other shareholders.

Yes. The Tinkler Group spokesman said their main joint venture partner, Orchard Capital Partners in Hong Kong, was experiencing financial difficulties in one of its funds and, as a result, took the unexpected decision to place Aston Metals into receivership.

The Walford Creek deposit is the primary project focus for Aston Metals and is described in the article as a copper, lead and zinc deposit located in the Mount Isa region.

According to the article, receivership means receivers have been appointed by the secured creditor's trustee to manage and deal with the secured property of Aston Metals as part of enforcing the secured creditor's rights after debt repayment was not made.