The US Bankruptcy Court gave an order approving the bidding procedures relating to the sale of substantially all the assets of Hopedale Mining LLC on August 12, 2020. The Court approved the asset purchase agreement between the debtor and Pledge Servicing Partners, LLC, the stalking horse bidder, for the sale of substantially all its assets for a purchase price of $40 million in cash. The debtor’s assets are classified into 6 different asset groups. Asset group 1 consists of accounts receivable, inventory at CAM mining operations, inventory at Castle Valley mining operations, inventory at Hopedale mining operations, and inventory at Jewell Valley mining operations, asset group 2 consists of all assets associated with the CAM mining operations (excluding inventory) including land, leasehold interests, mineral rights, equipment, other related executory contracts, permits, and the assumption of reclamation liabilities, asset group 3 consists of all assets associated with the Castle Valley mining operations (excluding inventory) including, land, leasehold interests, mineral rights, equipment, other related executory contracts, permits, and the assumption of reclamation liabilities, asset group 4 consists of all Assets associated with the Hopedale mining operations (excluding inventory) including leasehold interests, mineral rights, equipment, other related executory contracts, permits, and the assumption of reclamation liabilities, asset group 5 consists of all Assets associated with the Jewell Valley mining operations (excluding inventory) including land, leasehold interests, mineral rights, equipment, other related executory contracts, permits, and the assumption of reclamation liabilities and asset group 6 consists of all other Assets of the Debtors including, but not limited to, Rhino Eastern Reserve, Colorado Property, Rich Mountain Reserve, Hopedale Dock, Taylorsville Reserve, Leesville Reserve, Springdale Reserve, McClane Canyon Reserve, and Jewell Valley Plant. To qualify as a qualified bidder, interested parties should submit their bids by August 21, 2020. If the debtor receives any qualified bids then it would hold an auction for its assets on August 31, 2020. At the auction, the subsequent bids would be in increments of $0.1 million for asset group 1 to asset group 5 and for asset group 6 the minimum increment shall be in the amount of $0.03 million. The stalking horse bidder would be entitled to expense reimbursement of $0.25 million in case of termination of the asset purchase agreement. The sale hearing is scheduled for September 4, 2020.