John Park and Quentin Olde of FTI Consulting have been appointed receivers and managers to the Aston Metals group, which is part of Tinkler’s non-coal empire.

The receivers were appointed by Madison Pacific Trust in its capacity as security trustee over all secured property of Aston Metals, a fully owned subsidiary of Aston Copper (part of the Tinkler Group) and its subsidiary Aston Metals (Queensland).

Tinkler’s Aston Resources merged with Whitehaven Coal last year to form a giant coal mining group, with the Narrabri underground coal mine and the Maules Creek coal projects as its major assets.

Aston Metals is a base metals explorer with tenement holdings in the Mount Isa region of North West Queensland.

Aston Metals has five projects: Walford Creek, Constance Range, Isa North, Isa West and Isa South.

Walford Creek, which was the site of successful drilling campaigns in 2011 and 2012, is the primary focus of Aston Metals.

"The receivers and managers will review the status of all projects owned by Aston Metals as part of their appointment with a view to offering them for sale," FTI said.

A spokesman for the receivers added: "The receivers have been appointed by Madison Pacific Trust, the security trustee acting on behalf of the noteholders to Aston Metals. The noteholders are funds managed by OCP Asia (formerly Orchard Capital Partners).

"Receivers have been appointed as the notes are in default as the payment date has lapsed. Aston Metals and Mr Tinkler have received a number of notices over the previous 30 days requesting payment of the debt as per the rights of the secured creditor. This would not be a surprise for Aston Metals or Mr Tinkler.

"Funds managed by OCP Asia are secured creditors to Aston Metals and not joint-venture partners."