Holt Mine Complex consists of three mines: The Holt Mine and Mill and the Holloway Mine, and the Taylor Mine located approximately 68 km by road west of the Holt Mill.
Operations were suspended at the Holt Complex effective April 2, 2020 as part of the Company’s COVID-19 response and while the Company conducted a strategic review of these assets. In July 2020, the Company announced that the suspension of operations at Holt Complex would be extended until further notice. As a result, there was no production, sales, operating costs or capital expenditures from Holt Complex in Q3 2021 or YTD 2021. Care and maintenance costs in YTD 2021 related to Holt Complex totalled $3.7 million ($0.8 million in Q3 2021). In addition, the Company recorded an asset impairment of $6.5 million related to the disposal of equipment at the Holt Complex in Q1 2021. |