British Columbia · CCAA
Second Monitor's Report
Court officer report · 20 October 2022
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 filing12 verified
- appointeeAlvarez & Marsal Canada Inc.
- courtIN THE SUPREME COURT OF BRITISH COLUMBIA
- court file noS-227894
- appointee rolemonitor
- commencement date4 October 2022
- cash on handnote: Total cash and cash equivalents per the actual column of the cash flow variance table (closing cash available $4,285K plus GIC $151K as printed). Amounts in the report are in USD unless otherwise noted. · as at: 2022-10-14 · amount: 4437000 · currency: USD
- disbursementsnote: This is a one-week figure (week ended October 14, 2022; forecast $277K), not a cumulative total. Separately, cumulative advances to the Coricancha Mine since the NOI filing were $495,000. · amount: 254000 · currency: USD
- financial positionnote: Monitor derives 'net asset value' of approx. $70.8 million at Dec 31, 2021. Unaudited interim consolidated statements as of June 30, 2022 reported total assets of $184.1 million and total liabilities of $101.8 million (net approx. $82.3 million). Monitor did not review the Sales Agent's valuation assumptions. · as at: 2021-12-31 · basis: Per GPR's audited consolidated financial statements as of December 31, 2021 (audited by KPMG LLP, subject to periodic IFRS impairment testing); figures are for the Tucano Mine only. · scope: Tucano Mine (Mina Tucano) only, as reported within GPR's consolidated statements; not the whole GPR group. · currency: USD · total assets: 149500000 · total liabilities: 78700000
- operational summaryGPR is advancing the CCAA SISP and the Coricancha Transaction while funding care and maintenance at the Coricancha Mine, and continues to purchase and sell gold dore to Asahi sourced from Mina Tucano, which is in Brazilian judicial reorganization proceedings.
- professional feesnote: Actual restructuring professional fees disbursed in the week versus $20K forecast. The report does not state total fees for the Monitor or its counsel. · party: Restructuring professional fees (actual disbursement, not broken out by party) · amount: 24000 · period: Week ended October 14, 2022 · currency: USD
- report date20 October 2022
- report noSecond Monitor's Report