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September 9, 1999
It seems that US-based Alta Gold Inc is still dodging the bullet when it comes to bankruptcy. The struggling gold producer announced yesterday that it has succeeded in convincing the authorities to accept its motion to dismiss its Chapter 11 bankruptcy proceeding off calendar. Unfortunately for Alta, the authorities have denied the company's request for more time to reorganize. In addition, a sales agent was appointed to assist in raising additional capital through the sale of the company's various assets.
September 1, 1999
Alta Gold Co announced that the United States Bankruptcy Court has granted a continuance of the company's motion to dismiss its Chapter 11 bankruptcy proceeding and has established Sept. 8, 1999, as the continuance hearing date. The company has filed the motion on the basis of an offer the company received from a potential investor for the purchase of an interest in Olinghouse.
August 31, 1999
Mining, crushing and milling operations were temporary suspended in order to conserve cash. Gold production was to continue from heap-leach processing at both Olinghouse and Griffon.