North River Resources PLC (05875525): administration
- Status
- Administration ended
- Administration began
- 2020-06-11
- Administrators
- Shane Crooks, Mark James Shaw
- Administrators' firm
- BDO
- Incorporated
- 2006-07-13
- Location
- Liverpool
- Industry
- 70100 Activities of head offices
Why it went into administration
- COVID-19
From the administrators' statement
The Company was incorporated on 13 July 2006. It was based in London and its previous registered office was located at 60 Gracechurch Street, London, EC3V OHR. The registered office is now at our London office.
The Company is a holding company for a number of subsidiaries, with all but one of these being dormant. The remaining subsidiary, Namib Lead and Zinc Mining (Pty) Ltd (‘NLZM’), a Namibian company, was established to operate a lead and zinc mine in Namibia. The Company holds 90% of the issued share capital of NLZM.
The Company was funded initially via unsecured shareholder loans provided by its two largest shareholders, CL Ventures Lux SARL (‘Castlelake’) and Greenstone Resources LP (‘Greenstone’). This allowed the Company to fund, in particular, the activities of NLZM, and we understand that, until the summer of 2019, significant investment was made into NLZM, in order to develop the necessary mine infrastructure.and ramping-up the mine. The mine commenced production in or around August of 2019.
Administrators' statement of proposals (2020-08-20) · Companies House register