Alta shuts down Olinghouse

Pending resolution of bankruptcy proceedings, Alta Gold (ALTAQ-O) has suspended mining at the Olinghouse gold mine, 30 miles east of Reno, Nev.

The company hopes to avoid bankruptcy by selling a 40% interest in the open-pit mine to a private investment group. Alta expects to complete the sale prior to the bankruptcy hearing, scheduled for late August. No sale price was disclosed.

Alta could resume mining and milling at the site as early as September; meanwhile, heap leaching at Olinghouse is resulting in minimal production.

The company also produces minor amounts of gold from the similarly suspended Griffon mine in eastern Nevada.

Print

Be the first to comment on "Alta shuts down Olinghouse"

Leave a comment

Your email address will not be published.


*


By continuing to browse you agree to our use of cookies. To learn more, click more information

Dear user, please be aware that we use cookies to help users navigate our website content and to help us understand how we can improve the user experience. If you have ideas for how we can improve our services, we’d love to hear from you. Click here to email us. By continuing to browse you agree to our use of cookies. Please see our Privacy & Cookie Usage Policy to learn more.

Close