The owner of White River's gold mine is changing hands.
The Ontario Superior Court of Justice has approved the sale of Harte Gold to a numbered company that is a wholly-owned - but indirect - subsidiary of Australian miner Silver Lake Resources Limited, after a short "sale and investment solicitation process" ended with a brief auction between two bidders.
That deal includes $74.5-million US in credit, covering most of Harte's liabilities, including the amount Harte owes Silver Lake for past loans.
Toronto-based Harte filed for creditor protection in early December, amid a continued cash crunch, though it has continued operations at the Sugar Zone Mine in White River, which entered commercial production in 2019.