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Inmet Mining reports $2.7 million net loss for July; cash down
By Sarah Lizee
Olympia, Wash., Aug. 29 – Inmet Mining, LLC reported a $2.7 million net loss for July on $11.9 million gross income/sales, according to its monthly operating report filed Monday with the U.S. Bankruptcy Court for the Eastern District of Kentucky.
In comparison, the company reported a $481,432 net loss for June on $7.31 million gross income/sales.
The cash balance at the end of July was $2.25 million, down from $4.54 million at the end of June.
The Knoxville, Tenn.-based coal mining company filed Chapter 11 bankruptcy on April 5 under case number 23-70113.
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