Hycroft Mining Corporation Completes Financial Restructuring Process and Emerges from Chapter 11 with $221.7 Million in Financing
RENO, NEVADA--(Marketwired - Oct. 22, 2015) - Hycroft Mining Corporation (previously known as Allied Nevada Gold Corp. and referred to herein as "Hycroft Mining", "us", "we", "it" or the "Company") is pleased to announce that, effective October 22, 2015, it has completed its financial restructuring process and has emerged from Chapter 11. On October 8, 2015, with the support of the Company's debt holders and creditors, the Company's Plan of Reorganization (the "Plan") was approved by the United States Bankruptcy Court for the District of Delaware. Continues here
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Once again, a more accurate analysis is impossible to achieve:
Today's NR starts this way:
Gotta love how Randy Buffington is still in charge of this mess. And gotta love the way this company still has all its "gold on heap leach" as a current asset. Pity the main leach pad in question has turned to concrete but hey...details...