After reading the news release, it looks like chapter 11 is imminent. I thought chapter 11 protects a company from foreclosure while a repayment plan is structured and implemented. BUT, doesn't the creditors have to approve of the repayment plan, even in chapter 11? Please correct me if that is incorrect. And why would the lenders approve of any repayment plan if they can foreclose and make a quicker profit?

Chapter 11 would buy more time to find new financing or purchase. But unless the price of gold goes to new highs (and beyond) that seems to be unlikely. Though, that is what I hope.