Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On
In response, as required by Section 802.01C, the Company plans to notify the
NYSE of its intent to cure the deficiency and restore its compliance with the
listing standards of Section 802.01C. The Company has six months following
receipt of the notification to regain compliance with the minimum share price
requirement. To regain compliance, the closing price of the Company's common
stock must be at least
The notice has no immediate impact on the listing of the Company's common stock, which will continue to be listed and traded on the NYSE during this period, subject to the Company's compliance with other listing standards. The common stock will continue to trade under the symbol "MUX," but with the added designation of ".BC" to indicate the Company's "below compliance" status. The ".BC" indicator will be removed at such time as the Company is deemed to be in compliance. The Company intends to monitor the closing share price for its common stock and explore available options to regain compliance with the continued listing requirements. In the event that the Company fails to restore its compliance with the continued listing standards of Section 802.01C, that section calls for the NYSE to commence procedures for the suspension and delisting of the Company's common stock.
The notice does not affect the Company's ongoing business operations or its
reporting obligations with the
Risk Factors
Failure of the Company to regain compliance with the NYSE listing requirements could result in delisting of its common stock, which in turn could adversely affect its future financial condition and the market for its common stock.
If the common stock ultimately were to be delisted for any reason, it could negatively impact the Company by (i) reducing the liquidity and market price of the Company's common stock; (ii) reducing the number of investors willing to hold or acquire the Company's common stock, which could negatively impact the Company's ability to raise equity financing; (iii) limiting the Company's ability to use a registration statement to offer and sell freely tradable securities, adversely affecting the Company's ability to access the public capital markets; and (iv) impairing the Company's ability to provide equity incentives to its employees.
Item 7.01 Regulation FD Disclosure.
On
2
The information furnished under this Item 7.01, including the exhibit, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by reference to such filing.
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. 99.1 Press release datedJanuary 6, 2022
104 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document.
Cautionary Statement
With the exception of historical matters, the matters discussed in the exhibits
include forward-looking statements within the meaning of applicable securities
laws that involve risks and uncertainties that could cause actual results to
differ materially from projections or estimates contained therein. Such
forward-looking statements include, among others, statements regarding future
exploration, development, construction and production activities. Factors that
could cause actual results to differ materially from projections or estimates
include, among others, the continuing effects of the COVID-19 pandemic and
related governmental responses, metal prices, economic and market conditions,
operating costs, receipt of permits, receipt of working capital, and future
drilling results, as well as other factors described in the Company's Annual
Report on Form 10-K for the year ended
3
© Edgar Online, source