The permitting process has come to a halt, due to internal restructuring, and the Grand View Venture notes (>$350K) come due in October regardless of where the permitting process stands. If they default on the Grand View Note, they lose the mine. It's as simple as that.
Ruben Sanchez, field manager for the Bureau of Land Management Kingman Field Office, said the agency has been working with Sierra on its environmental assessment but progress has stopped for now.
The company is going through some internal restructuring, and that's where the delay is right now," said Sanchez.
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