Expressions of Interest sought for the Recapitalisation or Sale of the Frances Creek Iron Ore and Gold Assets

Ridgepeak Holdings Pty Ltd (“Ridgepeak”) and Linecrest Pty Ltd (“Linecrest”) (Administrators appointed to both) (Receivers and Managers appointed to both) (together ‘the Companies’).

Richard Tucker and Scott Langdon as Receivers and Managers of Linecrest and Richard Tucker and Jared Palandri as Receivers and Managers of Ridgepeak together with Cliff Rocke and Jimmy Trpcevski as Administrators of the Companies are seeking expressions of interest for the forthcoming sale or recapitalisation of the Companies business and assets.

The Companies own and operate the Frances Creek Iron Ore Project located 180km south-east of Darwin, Northern Territory. This site has a long history of high-grade iron ore mining, with operations dating back to the 1960s. The project was placed into care and maintenance in February 2025 following delays in the approval of the mine management plan, which has since been approved.

Associated entities also own the rights to the gold from the tenements, and equipment used to operate the mine and are available for sale.

Frances Creek lies within the Pine Creek Orogen, a region known for hydrothermal mineralisation and historic gold production.

Key investment highlights: 

• Significant gold upside with exciting exploration targets
• The mine processes high-grade hematite suitable for direct export
• Advanced ore sorting technology used in the beneficiation process
• Includes onsite crushing and screening with weatherproof haul roads

Non-binding indicative offers are due by no later than 12pm (AWST), Thursday, 30 October 2025.

Interested parties can contact:

Receivers and Managers – KordaMentha – Tim Cole
T: +61 8 9220 9304
E: [email protected]

Administrators – WA Insolvency Solutions – Mariana Pereira
T: +61 8 9463 3095
E: [email protected]