RE:RE:RE:RE:Frustrating TimesNewfie75 - (11/15/2013 2:12:21 PM) RE:RE:RE:Frustrating Times I may have misinterpreted boss' post but I took offence to the first few lines.
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Boss says:
Newfie, I offended you clearly, and I 'earned' your wrath....
I have been here long since before the CTO...as have you... and we both have suffered through sketchy execution, and I guess we have been victims of the 'over promise - under deliver' regeime....and at times our patience and nerves have been tested...
Many believe the old dog will never change...but I believe SPROTT changes everything....
Here is what I need to happen to VALIDATE the change to 'under-sell, over deliver model':
1.
The production of the 2013 and the 2014 BL tonnage run concecutive - the start date must occur in time to process the full 2013 permitted tonnage
- the CONCENTRATOR must be employed (as its now been touted on 2 video presentations)
2. COW PEA - delivered within the Phase I plan which clearly states fiscal 2013 (so completed by feb 2014)
3. QAQC of COW cores - touted for completetion in Novemebr 2013
In my mind, these will show BGM's transition to accountability (dosent end here, rather it starts here)....
As for an early stage Buyout; Who are the Stakeholders involved in this project that have NEEDS?
- BGM team (20 years of 'digging in the mines' with their bare hands)
- Legacy investors (funding the development effort and still under water)
- BCSC (ensuring a balanced industry, investors are protected, projects stand up to world compliance)
- BC gov (success through the development of a multigen project - infrastructure buildout - expanded tax base)
- First Nations (a chance to be active participants in the successfull development (re-) of an industry)
- Wells, and the surrounding region (multi-gen stability fueling growth)
- Canadian Gov (re-vitalization of a downtrodden industry...)
- Retail investors (excited to be part of this but have had money locked in through CTO)
- Market makers (currently managing a market under distress...need fresh and new)
- Gold majors (even if BGM rises to be a competitor, a win here is a WIN for ALL)
... this list goes on...
An ownership 'flip' to cash-up (replace) a junior who cannot make it to the end game is sometimes a necessity...
but may not serve the NEEDS of the broader stakerholder list...
Has Sprott mitigated that risk (of not making it to the end game)...I believe so (contingent upon my points above)
This is my opinion, and like many, I await the validation of accountability through my points outlined above....and if this occurs...BGM has liftoff......