“The fun starts in November, when the gold notes start coming due. We can only hope the creditors behave themselves, form an orderly queue and don’t start squabbling over who gets paid first. Impressively, this thing still has a market cap of around $35m. That won’t last, though.”
Gran Colombia Gold (GCM.to) and Colossus Minerals (ex-CSI.to)
Back in August this year, this humble corner of cyberspace mused on the then-market cap of Gran Colombia Gold (GCM.to) by stating…
…and that little prediction has (horror of horrors, Fino) turned out to be true. As I checked out a couple of screen filters this morning I noticed that GCM.to was now down to a $15m market cap and there was something about that number which…what was it…reminding me…of….Aaaah yeah that’s it, this post dated December 31st 2013 about Colossus Minerals:
CSI then proceeded to disappear up its own hind quarters, victim of poor operations and heavy debt. Remind you of any current cases out there? Yeah, me too.