Wednesday, July 3, 2013

News of the future; Xstrada will pick Barrick out of bankruptcy for pennies on the dollar

But Munk and the bonus boy will be long long gone.

It's not looking good for Barrick shareholders. By the time they get that troublesome new gold mine down in South America on line, their debt will be way over their market cap.

Now I don't have an MBA or anything like that, but even I can see that this isn't going anywhere pleasant...

Unless you're the folks who pick Barrick out of the wreckage at ten cents on the dollar.

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