They did do a new capital cost estiamte and realized they needed...

They did do a new capital cost estiamte and realized they needed to spend an extra $200 million. Tell me, do you know when the original feasibility study was completed? Once again, I have seen projects double in cost over the course of a year or two - the inflation was getting ridiculous for materials. As for recouping their investment - that certainly could be difficult if they do an outright sale. Fixed price contracts on mining projects???? Lol - find me one project started from 2004-early 2008 where that happened? A mine takes years to build - and from the time you start until the time you finish, in an inflationary environment - costs can run away on you. I agree that they should have had a firmer commitment on financing - but banks were even breaking their commitment letters, as the fine print, in the event of a liquidity crisis can allow them to leeway. These are things that were happening to companies. Do you understand the significance of that? Inflation sends out inaccurate price signals, and OGC was a victim of that - and admittedly, other companies handled it better as they weren't financing through debt.

Yes, as I said - overall cash flow as a SOLVENCY test. It is not a measure of profitability or efficiency. That was my point. I agreed it was important to analyze overall cash flow - and specifically for the reason I stated. Remember, right test for the right time.

US dollar will be reserve currency for a long time........I know people like to think it won't, but it will. If you do a little more research into the world monetary system you will understand why. For example, US's largest debtor nation China has not desire to unload their US Treasuries and currency. It would take massive devaluation of the US currency for countries, like China, to seek an alternative. I have some bad news for you through - if all American debtor nations decided that they wanted "out" - you would have such a currency crisis, that all worldwide currencies would be scrambling to devalue their own currencies so their own economies don't implode. Thus, the steps to US dollar not being the reserve currency would be many, many times worse than what was seen in 2008. So, either we have a severe, severe depression and worldwide currency crisis or the US currency remains as reserve - which is more feasible? Don't just read gold bug articles - they are too one sided.