Blue Note Caribou seeking partner

Dec 23, 2008 | 11:37 AM | Anne Riley

Blue Note Caribou Mines Inc., a wholly owned subsidiary of Montreal-based Blue Note Mining Inc., said it will undergo a voluntary restructuring in January, under which it will look to lower costs by seeking out a strategic partner.

The company has only Canadian $7 million ($5.8 million) in the bank and a monthly care-and-maintenance budget of C$500,000 ($412,000).

According to the miner, a number of parties have already expressed an interest in partnering to finance the company's Caribou complex, an underground zinc-lead mine in New Brunswick that was placed on a temporary care-and-maintenance program in November under the weight of tumbling metal prices. ....





Latest Pricing Trends

Poll

Are you stocking more inventory today than 18 months ago?

Yes
No


View previous results