Jason Tracy and Daniel Linaker were appointed joint and several voluntary administrators of HFR and its wholly owned Australian Subsidiary, KCL, by a resolution of the Companies’ directors on 7 September 2026 pursuant to Section 436A of the Corporations Act 2001 (Cth).

Immediately following our appointment as administrators of KCL, Global Loan Agency Services Australia Specialist Activities Pty Limited as security trustee appointed Peter Gothard and Gayle Dickerson of KPMG as receivers and managers of the assets of KCL, including the shares in Geoalcali, S.L.U. (an entity registered in Spain) owned by KCL.

Geoalcali S.L.U.’s operations including the Muga mine are unaffected by the appointment of the Administrators and the receivers and managers and this entity remains in the control of its directors.

The Administrators' investigations into the affairs of the Companies are underway.

We will report to all creditors on the options and Administrators' recommendation for the future of the Companies in due course. 
 

Further information can be obtained from the dedicated portals.

• HFR -  IPS Portal
• KCL - IPS Portal