SECTOR

Metals & mining​

BUSINESS DESCRIPTION

A formerly AIM-listed, pan-African, multi-commodity mining group, majority owned by a large international Chinese group.

DATE

August 2020​

SITUATION

• ASA was experiencing short/medium term cash flow shortages and the directors consequently took steps to improve the Group’s liquidity position, primarily by divesting non-core assets and attempting to raise capital via public markets.​

A&M ROLE AND OUTCOME

• Reviewed the short-term cash flow, the Group’s portfolio, valuation appraisal and long term cashflow models to identify the appropriate sales strategy.​

• Working closely with key stakeholders, A&M successfully disposed of ASA’s direct and/or indirect equity interests in two main operating mining assets of the Group.

• The Joint Administrators successfully achieved the objective of the administration, rescuing the company as a going concern, allowing the Company to be brought out of administration and handed back to its directors in August 2020.​