Becart
Nice Panther Mining (NYSE:GPL) -58% pre-market on Tuesday after saying it would search creditor safety beneath Canada’s Chapter and Insolvency Act.
Nice Panther (GPL) mentioned it’s prone to default on a number of debtor agreements “attributable to liquidity constraints stemming from the operational challenges beforehand disclosed, inflationary pressures considerably impacting prices, unexpected however obligatory capital expenditures, and contractor mobilization delays due to tools availability points.”
The corporate mentioned the submitting of the discover of intention will enable it to discover out there choice whereas persevering with to function the enterprise, however a failure to realize its restructuring targets by an accepted proposal would end in chapter.
Nice Panther Mining (GPL) just lately reported a Q2 GAAP lack of $0.26/share on revenues of $30M.
