From the AFR, another iron ore junior bites the dust, or not:
A vicious battle is underway for the future of Pluton Resources, with the company’s board fighting off administrators called in by two of its creditors.
Documents lodged with the Australian Securities and Investments Commission on Friday afternoon show FTI Consulting had been appointed to the company as administrators.
…It is understood that Pluton is questioning the validity and source of the appointment and will provide a further update to the market later today.
“Rizhao, Wise, FTI and Mony De Kerloy have been notified that their actions have caused damage to the company and all rights have been reserved,” Pluton said Monday.
The first of many such stoushes as the sector comes apart.
