THE four mines, all in Scotland, operated by ATH Resources will continue to operate and could be sold, administrators from accountant KPMG said.
Will Wright, joint administrator, said: "Our appointment only affects the group's parent company, and the main trading businesses within the group are unaffected by our appointment."
A fund controlled by Better Capital, the turnaround specialist headed by Jon Moulton, acquired ATH's debt and demanded immediate repayment, forcing the company into administration.
Mr Moulton previously ran Alchemy Partners which was the largest shareholder in ATH when it floated in 2004.
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