THE CHRONICLE HERALD Published March 30, 2015 - 6:20pm
Last Updated March 30, 2015 - 9:07pm
A trustee handling the bankruptcy sale of an Eastern Shore gold mine is asking a Nova Scotia Supreme Court judge to allow it to market the assets this spring.
Representatives of Ernst & Young will be in Nova Scotia Supreme Court in Halifax on Wednesday seeking approval for a proposed sale plan involving the Dufferin mine.
A judge placed Rimouski, Que.-based Ressources Appalaches Inc. and its subsidiary, Dufferin Resources Inc., under creditor protection in January. Lascaux Resource Capital, a New York financing firm, forced the companies into receivership after Ressources Appalaches defaulted on $11 million in loans tied to the mothballed mine.
The Quebec company ran into financial trouble last summer and fall because of delays restarting the operation. The restart was idled in October, throwing about 60 people out of work.
The trustee said it has compiled a list of prospective buyers who have expressed an interest in the mine. Others in the North American industry will also be notified of the sale, court documents say