Gold swap Thanks all for your help with note 19c.
I also followed up with a phone call to IR. Who called me back today.
It all seems to be above board to me. They bought two producing mines and that cost money. The $75 million paid back the 50 million 1 year loan and this forward swap of gold paid that of and produced some capitol to continue to develop cosmos.
I guess as it has been pointed out it will come down to whether they can get cosmos up and running with promised production levels.
I'm cautiously optimistic that they will get through these startup problems they are promising commercial production 1st quarter 2013. I think it is still to early to throw in the towel on Crocodile.