Allied Nevada Gold Corp., which operates the gaming state’s Hycroft mine, filed for bankruptcy after operational setbacks and lower gold prices eroded profitability at its sole working property, Bloomberg News reported today. The company filed for chapter 11 protection listing liabilities of as much as $1 billion and assets of more than $1 billion. Allied Nevada also reached an agreement with a group of bondholders on a $78 million debtor-in-possession credit facility that will allow it to keep operating while its debts are being restructured.
