Gold Miner Allied Nevada Files for Chapter 11 Bankruptcy
By GCRU Gold News on Wednesday, March 11 2015, 22:39 - Permalink
Allied Nevada Gold Corp., the operator of the gaming state’s Hycroft mine, filed for bankruptcy after operational setbacks and lower gold prices eroded profitability at its sole working property.
The company’s shares traded above $45 in 2011, the year gold prices peaked. The shares fell 80 percent to 17 cents in New York at 1:15 p.m. on Tuesday.