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The Gran Colombia Gold (GCM.to) business model

Fino: “So here’s the plan: We’ll set up a gold mining company, then we’ll raise a whole heap of cash to fund it, then we’ll produce gold at a higher cost than its market value, then we’ll make a series of quarterly net losses until the money runs out, then we’ll raise another pile of cash from the market, then we’ll continue to produce gold at a loss until that money runs out, as well. Then we’ll raise more cash from the market.”

Maria: “Cool! Do we get to pay ourselves a fat cash salary?”

Fino: “Sure, of course. $350k or $400k a year. This is capitalism, after all. We need to be rewarded for our hard work.”

UPDATE: Setty reminds your humble scribe of another aspect of the GCM.to biz model which had slipped the mind at the time of posting. Thanks due. 


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