Unbelievable Greed I just spoke w/the company. They are having a board meeting at this time. Here are the details of what I was told. I think this will make shareholders angry. Some of this may have been posted but I am sure not all of it.
Rex Harbour would like to purchase 50 million shares at $1/share and also receive 50 million warrants at $1.35 per shares. All other shareholders would be excluded fro participating in this financing except for those he will selectively choose to include in his group. I am told he has already offered the right to participate in his "group" to Eric Sprott who controls about 4 million shares. My understanding is that Sprott has rejected this offer. Ian Gordon also controls 3 million shares and has rejected this offer as well.
Ask yourselves why else would he be interested in obtaining so many shares at such a cheap price? Because he knows BGM has a gigantic asset and that Peter George's resource will likely hold up! Ask yourselves why would a company of the size of Barkerville need to raise $115 million dollars all of a sudden, (50M x $1 + $50M x $1.35), just before a major announcement which is likely to propel the stock to all time highs? Ask yourselves how could such a deal be in the interest of the public when we are excluded from participating so that a billionaire who lives in Monaco can do the entire financing himself? And by the way Mr. Harbour, what's the rush? If BGM messed up so badly then the share price will not go up after the CTO is lifted, surely you can pick up shares at $1 then, no? If your offer is in the best interest of the company, why are other shareholders excluded from participating?
Furthermore, Mr. Harbour has already attempted to do this to BGM! He attempted to do this to BGM before the first Peter George report came out. His offer at that time was to buy shares at 50 cents and receive warrants at 60 cents. Mr. Harbour owns between 6-7 million shares if I understand correctly. He is already going to do well, but it is not enough for him.
I am told Mr. Harbour did this once before with a company called Maudore Resources. He took it over around $3.45. He installed his son and other close associates and the stock price today is $1.75. Should any shareholder trust Mr. Harbour's ability to add value? Should we trust his intentions? Does anybody still doubt that Snowden is about to support a MONSTER sized resource?
GLTA longs other than Rex Harbour and his cronies.