Barkerville Gold Mns Ltd BGMZF

RE: RE: RE: RE: RE: Intenwash

[justlikethat]

" I think BGM needed cash quickly,"

 

When do you suppose mgmt came to that conclusion? A month before the deal or months before the deal Frank made? I'm going to give the benefit of the doubt that these people have a basic level of business experience (not a whole lot just a basic level). Looking at cash on hand in June, one could have easily calculated a burn rate and determined that cash would have been gone by the end of the year or there abouts. You would then start looking for funding. Right there right now.

 

Why was BGM put in the situation of accepting usury rates when they had months to plan this out? BCSC rules allowed for a PP. Go back and read the rules. If they truly "needed cash quickly" than what you have indicated is the fact that they can't manage or track cash flow or burn rate. If that is true we are all fooked.