September 6, 2022
Great Panther Mining Limited (TSX:GPR), a precious metals producer focused on the operation of the Tucano Gold Mine in Brazil, filed an NOI on September 6, listing approximately $17.9 million in liabilities, including approximately $17.1 million to Asahi Refining Canada Limited. The following day, the company also filed a judicial reorganization proceeding in the Brazil. The filing was precipitated by, among other things, Inflationary pressures significantly impacting costs, operational challenges, the necessary acceleration of certain capital programs, and contractor mobilization delays because of equipment availability issues, all of which led the company to forecast that it would likely default on several material agreements. A&M is the proposal trustee.
By Dina Milivojevic