Ontario · CCAA
Fourth Report of the Monitor dated December 11, 2015
Court officer report · 11 December 2015
AI summary
A plain-English summary drawn only from this filing: what it is, why it matters, and the parties, amounts and dates it turns on.
What we verified from this filing7 verified
- cash on handnote: Closing cash position per the actual results table ($000s: 3,955), for the period July 11, 2015 to November 27, 2015; opening cash was $4,661 thousand. The report projects approximately $2 million of cash on hand as at July 1, 2016 (a forecast, not the current position). · as at: 2015-11-27 · amount: 3955000 · currency: CAD
- disbursementsnote: Total Disbursements actual $1,360 thousand versus $2,480 thousand projected; net cash flow actual $(706) thousand. · since: July 11, 2015 (period to November 27, 2015) · amount: 1360000 · currency: CAD
- operational summaryMining operations have been suspended and maintained on a care-and-maintenance standby basis since the end of 2013 owing to low iron ore prices; the Company generates no operating revenue, is selling surplus assets (the Equipment), closing down the mine camp, and preparing a five-year Preliminary Plan, with the stay extension sought to June 30, 2016.
- professional feesnote: Table line 'Legal and professional fees' actual 133 ($000s) vs. projected 413. The report does not separately state the Monitor's own fees or whether tax is excluded. · party: Legal and professional fees (Company's actual disbursement, July 11 - Nov 27, 2015) · amount: 133000 · period: July 11, 2015 to November 27, 2015 · currency: CAD
- receipts cumulativenote: Total Receipts actual $654 thousand (net GST/HST rebates $43K and sale of assets $611K), versus $319K projected. · since: July 11, 2015 (period to November 27, 2015) · amount: 654000 · currency: CAD
- report date11 December 2015
- report noFourth Report