Crisis-hit Venezuela has $3.5 billion in debt payments due within 10 days (and $12 billion in 2016) and really only its gold bullion reserves to pay for it.
The penalties were the result of a BCSC investigation into resource estimates Callaghan announced in 2012 for Barkerville Gold’s Cow Mountain property.
"Finding mines is a high-risk business. In addtion to the geological risk are the political risk, the metal price risk, the mine financing risk and the timid, incompetent management risk. Success is the summation of a list of well-evaluated risks."