GoldExecute, my 2-copper coated zinc cents..... First of all, I appreciate the time you banged that out. Shows good faith and a depth of comprehension frankly I didn't expect. I was doing okay until I saw two points I'd seek to discuss further with you.
- This sticking point is about the YOUR modelling s/w investigations/reporting of same.
We can heartily agree on the difficulty modelling something unseen presents. My sticking point with your compilation and summarization of discussions with your contacts is this: NOT A SINGLE ONE professed any expertise in the specific modeling software the PG has not only used here, but SUCCESSFULLY used AND SUCCESSFULLY DEFENDED in his Rubicon experience, now borne out in real-life production "modelled on his model" if you please.
Until or if even that flaw in your response is addressed, that is a hole big enough to "drive a Hummer through!" To illustrate, it would be like surveying Olympic Gold Medalist Phelps, the swimmer for his technical critique of a farmer trying to corral pigs already in a mud wallow. Both are flailing with precision in a "fluid state"...and that is where the similarity ends quite frankly. Surveyed buddies of yours, esteemed or not, aren't using PG's modeling software, which has been attacked before, vetted, challenged legally, upheld, and now in actual production proving practice. So much for Swimmer Peter George, vs your barnyard muck modeling buddies.
- Second point of contention arises from this quoted portion:
Honestly, this thing better have scientific legs, or it will be chewed up and someone will be able to come in and scoop up the huge district for a song and dance, and then probably figure out that it does have significant upside. You better hope the numbers that come, and what management states fit into best practices, or it is over. It will be bad enough if the reasource comes out significantly lower, but if people can puch holes in the reports, the bottom may scare you. Just my opine.
This is all just cow plop. What exactly is it now that I'm supposed to be afraid of?
No one is going to come in and scoop up anything.
For starters, Frank Callaghan has the resource tied up as collateral for his personal loan. Last I "did the math," $300K give or take a few pence recent dore' cash flow from sale does NOT retire the multi-million dollar collateralized loan by F.C.!!! Chances are good, FC hasn't seen a cent of that $300K.
No one is coming in and scooping up jack squat, let alone "for a song and a dance." All the players are still queing up for their spot at the final heads' up poker table with FC. Simple as that.
This is a self-sustaining resource and has been for the last 20 years.
For all we know, a mgmt led LBO is being crafted to be presented sooner or later. Frank is a miner first and foremost. Yeah, I know I've said that before. But since you present yourself as one familiar with the industry from the shovel end of mining per se', you should know just how powerful that characterization of F.C.'s character, style, and leadership is. He's a doer, not just a talker.
IF there is a mgmt led LBO on the come,
then it sure as he-dbl-hockey sticks will be conducted higher than C$0.61 and more than likely above the halted C$1.22 level, as well. Again, what's to fear???
Those who bought in below $0.61 will make money. Those who didn't, might not. But there is no "scooping up for a song and a dance," punching holes in the report fear on my side of the shovel.
This is a PRODUCING GOLD MINE with proven ore deposits --amt of ounces being the quibble factor-- and permitted and functioning production facility, making real dore' bars on demand.
BGM is in one of the most favorable, stable sovereign nations on the planet. What is it again I'm supposed to be afraid of?
Cows? (with approved N43-101 reporting as I recall)
Bonanzas?
Gold Quartzes?
Newly identified potential ore zones identified in recent drill programs?
Frankly, GoldEx, you're talking your book...as in you have NO position in this stock or else you wouldn't be warning people who CAN'T BUY IN, let alone legally GET OUT. For all your shovel experience and association with mud wallowing modelers, this gloomy grab your backside with both hands and head for the bomb shelter, is just noise.
And all this over a C$.61/sh risk/reward profile?