Alita Resources suspends trading after going into voluntary administration

Singapore

CATALIST-LISTED lithium miner Alita Resources suspended trading of its shares on Tuesday morning, days after administrators and receivers were appointed in relation to its default on a secured A$40 million (S$37.4 million) loan.

In a bourse filing on Tuesday morning, the company said it is "unable to reasonably assess its financial position as it is currently placed under administration". Accordingly, trading in its shares will remain suspended while the administration continues, it added.