OTCQX:BGMZF - Post by User
Post by
hammer161on Mar 17, 2015 9:34pm
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Post# 23532100
What was not said ....
What was not said ....If find that today's press release more interesting for changes in direction and what was not said.
So they finally got mining on track and will probably make some money off the 21,000 tonnes. Too bad they ran out of pit due to the ammended 2014 pit plan and now have to look at undergound options instead. They probably should have mined it from undergound to start. Interesting to see the use of the terms "Test Mining" and "Phase 1" - never seen those i BGM documents before. If you are a producer as many here assert or asserted, like Tallestdude, why are you "test mining"? Ususally you don't "testmine" 25% of your reserves, you just mine them.
Assembling the database? Isn't that what was going on over the last couple of years? The reassaying and relogging etc? NO mention of reassaying and metallicst. It does look however like they may do some decent geological work.
Also interseting to see their emphasis on things as narrow high grade veins - just like was mined historically - they are going back to what mineralization in this area is really about. Too bad that a bunch of it has already been mined. Also too bad that if they go back to this approach their resources will take a very cold shower.
So what happend to Cow Mountain and the resource for it? NO mention. Island Mountian? NO mention. Financial restructuring or debt repayment? NO mention.
All in all just a new spin on the same old stuff. And the same IR obfuscation.