IKN

idle and fond bondage

The IKN First Law of Mining News Releases and Harte Gold (HRT.to)

A reminder of the law:
 “The
IKN First Law of Mining News Releases: Considering that anything
contained in a mining news release is presented in the best possible way
for the company in question, any piece of information contained in a NR
that comes across in any way negative means the real news and/or events
behind it must be very, very bad indeed.”

Now for Harte Gold (HRT.to) and its NR of yesterday:

Liquidity and Financing Update
The Company is in advanced discussions with existing lenders and/or potential new financing parties on the refinancing of its current debt facilities. Included in such discussions, the Company is also working with its major shareholder Appian, to deliver a near-term liquidity solution providing financial flexibility as operations continue to ramp-up.
 

Operations Update
Over the first two months of 2019, the Company resolved severe winter month operational challenges that temporarily impacted mining activities and ramp-up of operations. Contractor equipment failures and manpower issues in January and February caused a temporary slow-down to mining and unprecedented cold weather froze water in the tailings management facility, constraining process water supply and mill throughput.

Winter is cold in North Ontario…who knew? And for more details on the expected outcome of refi talks with Sprott, please see The Merchant of Venice by William Shakespeare.

UPDATE: Added on request from reader DT:

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