The reorganization process has been ongoing since June 2018. In August 2018, Orosur Mining Inc. wholly-owned Uruguayan subsidiary, Loryser SA (“Loryser”), placed its San Gregorio mining operations under care and maintenance. Under the Loryser reorganisation proceedings, the term for credit verification ended in September 2018. The Creditors Agreement was ratified by the Court in September 2019. Since then the Company has focused its activities on the implementation of the Creditors Agreement, and the sale of the assets of Loryser. Loryser, continues to focus its activities on the implementation of the Creditors Agreement and the sale of its Uruguayan assets. Loryser is also continuing with the reclamation and remediation of the tailings dam which is nearing completion. Progress is being made on the sale of Loryser’s other assets including plant and equipment. |