Sept 1 (Reuters) - Minquest Ltd MNQ.AX :
* Update on proposal to acquire wolverine zinc mine MNQ.AX
* Yukon zinc corp currently under court protection from creditors, with pricewaterhousecoopers having been appointed as monitor of Yukon zinc
* Says Yukon zinc has advised the monitor that it does not intend to execute the apa
* Under the terms of the apa Minquest would acquire the wolverine zinc mine for CAD$15 million
* Awaiting advice from monitor as to whether monitor intends to make application to supreme court of British Columbia
* If monitor does not intend to make an application to court, Minquest will proceed with making such an application to the court
* Application to court for an order that pwc be authorised to execute the apa on behalf of Yukon zinc
* Yukon zinc has put forward a restructuring proposal, which is to be considered by creditors at a meeting on September 2, 2015
* Yukon zinc stated if restructuring proposal is approved by creditors, does not intend to resume operations at wolverine in foreseeable future
* Source text for Eikon ID:nASXb7WRN7