“In November, subsequent to quarter end, we completed the disposition of
our gold bullion holdings for gross proceeds of approximately US$76
million ,” continued Mr. Yuzpe. “This transaction gives us the financial
flexibility to eliminate our outstanding debt, while providing the
Company with approximately $24 million to pursue new investment
Gold: The bottom is in
SCP.to has decided to stop covering its debt with metal and definitively cover its debt using dollar bills. And as the brand new Pres/CEO of SCP Mister Steve (coincide?) correctly points out, this is an opportunity. To buy it all back at $1,500 in a few months’ time.