Question I have a question to the followers of Brigus Gold. Calais Resources has a project (Cross Caribu) in Colorado, for which Brigus lended them over $ 10 million. The loan was secured with this property. They appeared to be unable to repay the loan in time (it was originally due in February 2011, but was extended and renegociated a few times).
The way I see it, Calais has even less change now to repay this balance......The credit markets are very difficult for such small explorers and are killing them. What are the implications for Brigus ? Does anybody know ?
This is not a bad project. It has 3.4 million ounces inferred, while the property is adjacent to one of Barrick's mines, who could easily wrap it up.....