Blue Note Caribou seeking partner
Dec 23, 2008 | 11:44 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. ....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute — no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Subscribe Now
Click Here
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.
Take a Free trial
Click Here