U.S.-based gold miner Allied Nevada Gold Corp filed for bankruptcy protection on Tuesday, buckling under a heavy debt load amid weaker metal prices. Allied Nevada, which owns the Hycroft open pit gold and silver mine in Nevada, said in a statement it was filing to restructure its debt, which stood at $543 million at the end of September.Under the proposed restructuring, the company's creditors and vendors are expected to be paid in full, the company said.Although the Hycroft mine is expected to continue operating during the restructuring, RBC Capital Markets analyst Sam Crittenden said he did not "expect much, if any, residual value for shareholders after the process given the large debt load and limited free cashflow at spot metal prices."Allied Nevada's biggest shareholder is Van Eck Associates, with a stake of 5.65 percent at the end of December, according to Thomson Reuters data. The California Public Employees' Retirement System owns 2.3 percent of the company and Paulson & Co Inc. 1.2 percent.
Allied Nevada Gold Corp. is a gold producer focused on mining, developing, and exploring properties in the state of Nevada. Shares of ANV remained unchanged at $0.86. In the past year, the shares have traded as low as $0.72 and as high as $6.70. On average, 3270460 shares of ANV exchange hands on a given day and today's volume is recorded at 43800.
Allied Nevada Gold Corp. is a gold producer focused on mining, developing, and exploring properties in the state of Nevada. Shares of ANV remained unchanged at $1.08. In the past year, the shares have traded as low as $0.83 and as high as $7.42. On average, 209052 shares of ANV.TO exchange hands on a given day and today's volume is recorded at 46830.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI fell by 0.35% or $-0.14/share to $39.32. In the past year, the shares have traded as low as $33.21 and as high as $41.44. On average, 870882 shares of TRI exchange hands on a given day and today's volume is recorded at 424826.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI traded higher by 0.22% or $0.11/share to $49.75. In the past year, the shares have traded as low as $36.86 and as high as $50.62. On average, 818323 shares of TRI.TO exchange hands on a given day and today's volume is recorded at 390198.
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