A Queensland resources company owned by Nathan Tinkler has been placed in the control of receivers.
Aston Metals is a base metals explorer that owns five projects around Mt Isa in Queensland's northwest.
The company is Mr Tinkler's main asset in the resources sector after he sold his stake in Whitehaven Coal for $600 million in June.
John Park and Quentin Olde of FTI Consulting have been appointed receivers of Aston Metals.
They were now reviewing each of the company's projects with a view to putting them up for sale, they said in a statement on Tuesday.
Mr Tinkler, a former billionaire, has been under financial pressure for some time due to the end of the coal price boom.
He has been unable to repay massive debts to creditors, leading to the sale of his Whitehaven stake, the liquidation of other companies, and the sale of assets including race horses and helicopters.