Mining companies in Canada continue to face challenging markets. Tough decisions sometimes need to be made, including potentially idling mining projects or restructuring a company. If financial distress or insolvency is looming, boards and management should add the following to their "to do" list. Forward planning is critical. While you must know in detail what the near term looks like, the focus should be on long term solutions. Occasionally, a bridge financing or a temporary "fix" is found and implemented. But sometimes these temporary fixes make longer term solutions even more difficult to implement and potentially deprive the company of its best alternatives.
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