Padbury extends suspension again

Junior miner pushes out announcement relating to $6bn Oakajee funding by another day.

Padbury Mining has again extended its voluntary trading suspension, this time by a day, pending an announcement to the market detailing the source and terms of the $6 billion it claims to have raised to construct a deep water port and rail network at Oakajee.

The company said it is waiting for information from the counterparties to a shareholders’ agreement as to whether they can meet their funding obligations and now expects to make an announcement by the commencement of trade on April 24.

The miner said it has fielded enquiries from the ASX, including a notice to produce documents relating to the capital raising, and said it planned to use the extended voluntary period to produce detailed responses.