Ovvero: Pararsi un po' il cul* in questo pazzo pazzo mondo di carte filigranate, iperfinanza globalizzata e picco delle risorse

martedì 10 marzo 2015

Allied Nevada Gold in bancarotta, Chapter 11

A'vleva dì, me .. ed eccoci, miners in bancarotta! Hippy-ya-yeah! .. dai e dai ce la stanno facendo ...

Wall Street Journal - Allied Nevada Gold Files for Chapter 11 Bankruptcy Protection
Loan will support business while the restructuring makes its way through the courts
By Peg Brickley, updated March 10, 2015

Allied Nevada Gold Corp. filed for chapter 11 bankruptcy protection Tuesday to cement a debt-slashing deal with creditors.

Existing shareholders are being offered warrants that may be worth something in the future, depending on how the Reno, Nev., company fares after exiting bankruptcy.

Allied Nevada mines and processes gold and silver primarily in that state. Holders of more than 67% of Allied Nevada’s senior unsecured bonds and its secured bank lenders support the financial restructuring, and trade creditors will be paid in full, the company said.

The company blamed its deteriorating financial condition on the drop in gold and silver prices in recent years, an overleveraged capital structure, delays in a key expansion project, and currency swap exposure.

As of Tuesday, Allied had less than $4.5 million in cash, court papers say. A $78 million bankruptcy loan will support business while the restructuring makes its way through the courts, Allied Nevada said.

Documents filed in the U.S. Bankruptcy Court in Wilmington, Del., say Allied Nevada’s assets are worth more than $941 million, while its debts total more than $663 million.

Major shareholders include Van Eck Assoc. Corp., Columbia Wanger Asset Management LLC, BlackRock Institutional Trust Co. and Pershing Trading Co. LP.
.. piuttosto piccola ma promettente e ambiziosa compagnia mineraria ...

Vendi! Vendi tutto Mortimer!! ... troppo tardi :(

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