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Imperial Metals to raise $100m to cover Mount Polley cleanup costs – BiV
Aug 15, 2014
Imperial Metals Corp. (TSX:III) will raise $100 million through debentures to help cover the cleanup costs of its Mount Polley mine disaster, and plans to move ahead with the commissioning of its Red Chris mine, despite the project being $61 million over budget and picketed by First Nations.
Imperial’s battered stocks took a healthy bump of more than 10% August 15, with the release of the company’s second quarter financial statements.
Imperial’s stocks dropped 40% in a single day, from $16.80 to $9.98, on August 5, the day after the Mount Polley tailings pond dam collapsed in what has been called the worst mine-related environmental disaster in B.C. history.