SILVER
While regretting the loss of its only operating asset after failing to repay its creditors, Canada’s Fortune Minerals could potentially emerge from a restructuring positioned to carry on with its flagship Canadian assets without any debt, provided that a negotiated agreement closed within the next weeks. The TSX-listed company last Friday announced that its subsidiary Fortune Revenue Silver Mines (FRSMI), which owned the Revenue silver mine (RSM), in south-west Colorado, had received notice from funding partner LRC-FRSM (Lascaux) that events of default had occurred under the amended and restated senior secured metal prepay agreement dated March 25, triggering all amounts and deliveries owing under the contract to become immediately due and payable.
This content is only available to subscribers.
Forgot your password? Click here
Don't have any login details?
Free Trial Access
