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The Barrick (ABX) bearish bullshit hype now signalling a rebound

Contrary to some readers' assumptions I'm not a Barrick Gold (ABX) ( fanboy. I hold no shares of the thing and from the 30,000 foot bird's eye view level, even though the people that run the shop are strategic morons that have made a whole series of errors to get where they are today, I doubt they're the devil incarnate types they're sometimes made out to be and I've always been (and still am) agnostic about its corporate ways after years of watching it do both its good things and bad things....when all said and done, it's just another capitalist entity. Added to that, I've raised an eyebrow or two over the recent dumpage in the stock price but I can't say it's been a mighty shock either, probably because I do know my way round a balance sheet and (unlike so many I could mention) care about petty, old-skool things such as assets, debt, liquidity...y'know, trifling stuff.

But this kind of bullshit from the uninformed idiot chatterers...

...has all the hallmarks the typical and classic overstepping of the mark which flags the level at which a distressed stock price has been oversold. If market sentiment can swallow the type of tosh, balderdash and nonsense spewed out by some wet-behind-lugholes anal yst with just about nous to be dangerous (first to himself, then to others) then we're talking about a market that has overstated the risk that ABX currently runs. Herds gotta herd.

This damnfool author at Mining Dot Com named Anthony Halley obviously hasn't bothered to think things through at all, preferring to rush into the conclusion he's already drawn from his own bias and cherrypicking of data. Seriously people, think about it for one second: Here's the argument on which Damnfool Halley bases his headline:
Barrick Gold's (NYSE: ABX) expected asset writedowns of $5.5 billion on the Pascua Lama project in Chile would slash the company's net worth by roughly 40%, shrinking its credit facility 'cushion' to $4.1 billion, Bloomberg reported Tuesday.
The company needs to hold a "consolidated tangible net worth" of at least $3 billion in order to sustain its $4 billion revolving credit facility.

What? I mean WHAT? as in WTF? You mean to say that the CEO of Barrick thought this to himself:
"Oh, I know what I'll do! I'll voluntarily write down such a big portion of our fixed assets that we lose our debt facility and cause a cash crunch and liquidity crisis at the company! Hey, what a smart boss I am!"

Anthony, listen to me: You. Are. Being. Fucking. Stupid. You're seriously suggesting that a company will commit financial suicide by doing its own balance sheet in to such an extent that its credit facility is impaired. Thing is, considering the mail received yesterday on this report and the subject, as well as the recent price action in ABX, the market seems to think that ABX has actively decided to cause itself liquidity damage, or at least hasn't discounted the damnfool Anthony Dumbass Halley argument. That's my idea of an oversold signal waving a large flag at me and blowing a whistle, too.

So, pair trade anyone? Long ABX/Short GLD?