via BiV - Pretium

Borrowing the money you need to go into business absolutely screws the shareholder and risks solvency problems due to your risk being traded by somebody else. Somebody else owns your risk and has purchased it in order for the lending to proceed. Disastrous.

What if there's a credit infarcus and ownership of the risk and therefore ownership of the mine is passed from the shareholder into episodes of hypothecation too numerous to relate?

You want to be seen as a success instead of an embezzler or a fraud artist or a hole in the ground with a liar up at the top?

The shareholders have to be seen to profit. Where's the profit in Pretium? Owning the risk.

https://www.biv.com/article/2015/9/pretium-secures-us540-million-financing-brucejack-/

-F6