Pegasus, based in Spokane, filed for bankruptcy in 1998, and forfeited a $30 million reclamation bond. The company later reorganized into Apollo Gold, a company that kept Pegasus' profitable mines ...

A mining company is exploring the possibility of building a new mine underneath a wilderness area in northwest Montana.

Pegasus mined the Black Pine site from 1992 to 1997, when the company filed for Chapter 11 bankruptcy. During that five-year stint, Black Pine yielded 465,000 troy ounces of gold.