Phil
We always try to keep the exchanges straight. The VSE and ASE merged to create the Canadian Venture Exchange ("CDNX"). Slightly different rules for operating, but really the best of both exchanges. The conversions and changes in rules, coupled with the huge volume of new tech issues coming out into the tech rally made administration a bit slower than normal, but otherwise things are working reasonably.
TDC's principal assets now are its Canadian properties. The Bumbat Joint Venture has been written down to $1. I'm not sure the price of gold has anything to do with Bumbat's status. It has more to do with the structure and status of the joint venture itself. If one party refuses/cannot contribute, or refuses to be bound by the jv agreement, then outside of the courts there is little that can be done.
As for the equipment.
When I worked at the Con Mine in Yellowknife, I had the experience of arriving just in time for a strike. I was a salaried, non-union employee placed on essential services. I sat in the powerhouse and monitored the compressors and power feed from the company's hydroelectric plant and government's line power. The compressors looked ancient, but worked well. I asked my cross-shift about them, and was informed that they were original equipment, installed USED, IN 1938.
The point is, that whereas a toaster might give up the ghost if abandoned for a few years, a crusher won't. The equipment is under cover in a winterized building. I wouldn't walk in and throw the switch, but neither would I throw the equipment out.
Dave |
