The province’s minister of Industry, Energy, and Technology is feeling optimistic about the future of the fluorspar mining operation in St. Lawrence now that the company has been granted more time to work out a restructuring plan to avoid bankruptcy.

The plan calls for $6.5 million dollars, spilt evenly between the province and major creditor Bridging Finance Inc., to help sustain the operation for the next few months while efforts continue to attract new investors.

Minister Andrew Parsons says fluorspar is gaining good prices on the market and the mine has a significant lifespan left. He admits there may have been some operational difficulties, but he’s feeling bullish about the mine’s future.

He compares the current situation facing the mine to that previously involving Come By Chance, in that it needs to be kept in warm mode.

He says the $6.5 million will keep the mine in care and maintenance mode for 20 weeks as the players explore solutions to continue operations.