RE: GBS Gold all over again
"GBS Gold International (GBS.TO, GBSFF): GBS Gold was a growing high cost gold producer. I was not too concerned by their high cost structure as they were increasing production, which pushes cash costs down. GBS had debt that came due several months ago. Instead of refinancing the debt (as would happen in normal credit markets) the bond holders foreclosed on the company sending it into bankruptcy....... The story here is not confined to GBS. Several other miners have either been forced into bankruptcy because there was no access to credit or are teetering. "
https://www.heavymetalinvestor.com/Documents/December%202008%20Market%20Update.pdf
GBS was a victim of the 2008 meltdown. Not quit the same as CRK at the moment.