Ontario · CCAA
Fourth Report of the Monitor
Court officer report · 25 August 2026
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What we verified from this filing5 verified
- disbursementsnote: Actual net cash outflow for the period, compared to forecasted net cash outflow of approximately $47.7 million. · since: July 18, 2026 to August 14, 2026 (4-week period) · amount: -86700000 · currency: USD
- operational summaryThe Debtors continue mining and shipping operations during the Sealift Season, with fuel and supply vessels delivering inbound goods and outbound iron ore shipments ongoing (approximately 40% of total volume shipped as of the report date), while the Monitor facilitates an Offtake Solicitation Process and the selection and engagement of a Transaction Advisor to run a SISP.
- professional feesnote: Negative permanent variance of $2.4 million in Professional Fees (CCAA), in part driven by payment of legal and financial advisory fees for the Senior Secured Lenders pursuant to the DIP Settlement Agreement; not included in June Forecast. · party: Senior Secured Lenders' legal and financial advisors · period: July 18, 2026 to August 14, 2026 · currency: USD
- report date25 August 2026
- report noFourth Report