Mines can absolutely become suddenly unprofitable. You don't know how much good stuff is in the ground until you dig it up.
15Redstones
joined 1 year ago
The mine went bankrupt in '89, just a few years after Errol bought shares in it. The boss was someone else.
German "Catastrophe" is "Katastrophe". "Katzastrophe" is "Katze"+"Katastrophe", which in english would be "cat" + "catastrophe"... oh.
Somehow I don't think Errol Musk knew that much about the geology. Allegedly he bought the shares on a whim without first visiting the mine, which was in a different country.