Barrick has gone $14 Billion in debt, and is still bleeding capital every day, on a mine that may never open.
If they have to write of Pascua, Barrick will become the least profitable of all the senior gold miners. Nate Rothschild leaving the board should have been a warning to ABX "investors" His family has been controlling the price of Gold for over 150 years now. After going in and out of Chilean courst, the next stop for ABX will be bankruptcy courts.
I just talked to the CFO. he's a friend of the family. He said they are close and are working on documents for BK protection. I sold all my long shares and went short to ride it down some. With the profits, I'll give some to the CFO for helping me out. Take care.
well i think the rothchilds uses ABX to lower the price of gold anyway.
with abx out of the picture it means gold and silver may have a shot at going up then.
abx = enemy of gold and silver holders. unless you want to buy it cheap
ABX sold future silver streams from Pascua to SLW.
The scheme was to expense out Silver production to
reduce the cost of Gold production to the cheapest in
the industry. When the court ordered stoppage on the
Chile side, ABX took SLW down with them. Nate saw
the Train Wreck coming down the tracks, and jumped
off the the dam tram. Now Munk is sneaking away like
a drunk driver leaving the scene of the accident.