Will seasonal shutdown become permanent???Since it has dropped so low I have been thinking of buying a few shares but I saw this article and started to wonder that if they have to shutdown for even couple months this winter will they ever reopen that mine? Then I started thinking what if the big anon seller is an insider that is dumping his shares for whatever he can get cause he knows the shite is going to hit the fan and soon. I have a bid in for 50k but I think I best pull it in the morning. Are any of you guys buying at these levels? Barkerville Gold (V.BGM) stays the axe as it heads into an uncertain cold winter Bakerville Gold (TSX: V.BGM, Stock Forum) has been relatively quiet on the production front since it announced pouring its first dore bar of gold back in July and as a result, it has gone into arrears with debt repayments to its lender, an Eric Sprott controlled company, 2176423 Ontario Ltd. It gained a reprieve at the top of August from Sprott’s company coupled with the announcement of the resignation of its President and CEO, Frank Callaghan. Callaghan, Barkerville’s founder, remained a director of the board with Norman Anderson, company chairman, taking his place as Interim President and CEO. The Stockhouse bullboard lit up with arguments that the company had negotiated an impossible interest rate for the loan that it had no ability with present cash flow to repay according to the schedule. This posted panic floated amidst opposing opinions that the company was in the middle of a growth phase, and despite lack of production news, its probable future justified the loan re-negotiation and the heightened interest rate. Whether or not the interest rate was impossible, the company is in its second month of arrears and as a result of its renegotiation, according to today’s announcement, it has offered up a board seat to its lender, which although limiting its independence at this important stage might result in the appointment of a strong CEO. Moving forward, the company has a good six to eight months of hard times ahead of it as it struggles with loan repayments, production restructuring and a possible seasonal shutdown, not to mention on-going changes at the board level in hopes of strengthening support for the company’s growth plans and operations. In the end, it is a question of production levels at Bonanza Ledge mine and whether this company is capable of developing the remainder of its prospective Cariboo Gold project, which includes the Cow Mountain, Barkerville Mountain and Island Mountain exploration targets. This one is too close to call at the moment as ‘bashers’ and ‘pumpers’ claw each others’ eyes out, but the company needs to press ahead as the shoe will definitely fall by middle of 2015. Shares were down 11.54% on the news to $0.345 per share. Currently there are 126.6m outstanding shares with a market cap of $43.7 million. Source: Stockhouse (Sep 2, 2014 15:42:56 EDT)