via Investopedia.org - Defalcation

Investopedia discusses Defalcation in U.S. legal terms. Much like the Bitcoin 'miner' that assumes legal approbation for a pyramid scheme through loopholes in the law, Golden Band operates with impunity through its swap agreements.

There is no source for the money spent in prior years, amounting to $300m. CAD, other than swapping doré for cash. Procon is not in the business of operating solely as a benefactor to Golden Band Resources over a period of years with no visible plan or outcome, nor does the company issue valid technical reports, nor do the financial reports indicate anything else than a balance sheet which is misleading.

For example. Liabilities on the balance sheet are forward-looking and are meant to accrue in the next year, meaning that the company expects to produce the same number of ounces as in prior years. Or, it could be that ounces are priced at cost and that this year's liability represents an expanded production profile.

The company operates without any debt and has no capital requirement and all costs are prepaid. Can a person come to this conclusion from the balance sheet?

"Legal defalcation can only occur if both parties agree to it, or if one of the parties involved happens to die before the debts are resolved. In the event of a death, a court may decide to defalcate the debts."

http://www.investopedia.com/ask/answers/110614/whats-difference-between-legal-defalcation-and-illegal-defalcation.asp

via INO.com - Souring Markets

Adam Hewisson with a brief synopsis on why markets are set to decline.

http://www.ino.com/blog/2015/09/its-friday-and-things-could-get-ugly/#.VewsIsT3arV

$GVZ Weekly

Gold price volatility set to increase, but volatility is a result of brief declines. Will gold prices crash along with a market crash, or will we see a low volatility melt-up as we've seen in the last couple of weeks along with declines?

Friday was anomalous for gold prices in the sense that buying pressure was very low from overseas markets, but gold prices did not close on the week with a new low.

http://schrts.co/bZi84z

-F6