via Palisade Radio - Interview With Don Coxe

Don Coxe discusses the processes of capitalism and compares economic events to paradoxical situations found elsewhere. But I would say that the restructuring of GBN.H under the BIA also falls under the rubrique of paradoxical situations as we see them emerge, such as negative rates, or the development of Shale oil, or the paradoxical lithium rush. (lithium-7 is used in thermonuclear weapons, thus the lithium rush to provide the isotope for fleet renewal as a by-product of the lithium craze.)

The tally for GBN.H so far, should you care to add up the cost of capital invested over the years would be ~$90m. in impairments, ~$200m. in costs, ~$330m. in total liabilities which were used for mine construction(but was part of a revenue-based financing,) and ~$115m. in further liabilities paid in full during the restructuring period as a pre-payment for subsequent operations. The total cost of capital tallies to ~$735m. It's preposterously absurd that the company be allowed to restructure under the BIA during a bull market in gold.

Aug. 12 is the closing date for the restructuring, basically a week away.

http://youtu.be/BC3xyD0HIHM

-F6