Companies with any interest in the idled St. Lawrence fluorspar mine have until next week to make an offer.
Monday is the new D-day for mine prospectors but it wasn’t supposed to be that way.
Things were very much looking up when a successful bidder, with plans to restart the operation, was chosen last fall.
They’d made the required deposit of $750,000, but the remaining $1.4 million required to close the deal, never came.
No reason was given for that failure, but it led to layoffs, and saw the mine placed in cold, as opposed to warm idle, to save costs.
It also forced all parties back to the drawing board, extending the time to close a new deal to Februrary 26, and giving lenders time to re-evaluate how to proceed.
In its last report to the Supreme court, monitor Grant Thornton does say that closing a sale with the successful bidder is still an option.
But they note so is liquidation, or permanent shutdown.