Lithium miner Alita Resources has gone into voluntary administration just days after shareholder Galaxy Resources paid $31.1-million to acquire the company’s senior secured debt facility. Alita earlier this month received a notice of default from a consortium of lenders under its secured A$40-million loan facility, with the lenders refusing to accept the updated life-of-mine (LoM) plan for Alita’s Bald Hill operation, in Western Australia, and alleging failure to comply with the physical parameters of the previously approved LoM plan.
