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Adelong Gold Limited (ASX:ADG)

ALERT: Price-sensitive ASX Announcement for ADG
Current share price for ADG : $0.005 -0.002 (-28.57%)+
Announcement
Release
18 Mar 2026 9:13AM
Price at Release
$0.007
Full Release
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Summary
Adelong Gold Limited announced that it has received a claim from Great Divide Mining Limited for $1.17 million under tax indemnity provisions concerning Challenger Mines Pty Ltd. This claim follows a review by the Australian Taxation Office on CMPL's GST reporting for the period from 1 July 2021 to 30 June 2025. Adelong considers the claim to be related to fraudulent activities by former accountants before the current management's tenure. The company intends to dispute the claim and will notify the market of any significant updates.
Key Points
  • Adelong Gold Limited received a demand for payment of approximately $1.17 million from Great Divide Mining Limited.
  • The demand is based on tax indemnity provisions related to Challenger Mines Pty Ltd.
  • The demand follows a review by the Australian Taxation Office of GST reporting for CMPL from July 2021 to June 2025.
  • Adelong Gold Limited believes the claim is linked to fraudulent activities by former accountants.
  • The company plans to dispute the claim and will keep the market updated on developments.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.