Hopedale Mining Llc filed a motion in the US Bankruptcy Court for the sale of substantially all its assets on July 22, 2020. The debtor seeks the Court’s approval for the sale of substantially all its assets to Pledge Servicing Partners, LLC, the stalking horse bidder, for a purchase price of $40 million pursuant to the asset purchase agreement, dated July 22, 2020. 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 19, 2020, along with good-faith deposit in the amount of $0.10 million or 10% of total cash consideration. The initial minimum overbid will be announced at the auction. The debtor has scheduled an auction on August 25, 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 August 31, 2020. Outside closing deadline of sale is September 10, 2020. The buyer is represented by Frank A. Merola of Stroock & Stroock & Lavan and Mary Beth Naumann of Jackson Kelly LLP as legal counsel.