The Beaufor Mine is under care and maintenance. On November 15, 2023, Investissement Québec, one of Monarch's creditors, has filed an application with the Superior Court of Quebec under the Creditors Arrangement Act (CCAA) to place the Monarch under the protection of the CCAA. PricewaterhouseCoopers Inc. has been appointed as the monitor to oversee the activities of the Monarch during the CCAA process.
PricewaterhouseCoopers Inc. initiated a sale and investment solicitation process (the SISP) for the Monarch, in whole or in part. The SISP proceedings commenced on November 27, 2023, with a target transaction closing date of no later than February 29, 2024. |