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Bankrupt Miner Lands $17.5M Bid For Exploration Interests

Law360, Wilmington (April 1, 2015, 9:30 PM EDT) -- Troubled mining outfit Allied Nevada Gold Corp. on Tuesday lined up a $17.5 million stalking horse bidder for a portfolio of exploration properties and asked a Delaware bankruptcy judge to bless procedures for the proposed sale.

The Reno-based debtor is seeking approval to hold a June auction for the group of 75 exploration properties, with stalking horse Clover Nevada LLC setting the bid floor at $17.5 million.

Allied Nevada, which does not conduct operations on any of the 75 properties, has been trying to monetize those...
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Case Information

Case Title

Allied Nevada Gold Corp.


Case Number

1:15-bk-10503

Court

Delaware

Nature of Suit

Date Filed

March 10, 2015

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