OTCQX:BGMZF - Post by User
Comment by
halcroon Oct 02, 2015 11:32am
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Post# 24157176
RE:RE:SMH
RE:RE:SMHFrom the May 31, 2015, M D & A:
After the results obtained as at February 28, 2015...management decided to stop production and to put Bonanza Ledge under Care and Maintenance, this decision will be revised as soon as commodity prices increase to a level where this project can be economical.
The price of gold at Feb. 28, 2015, was $1,214.00 (U.S.).
Yesterday, it was $1,113.50 (U.S.), a drop of $100.50 (U.S.), or 8.2 per cent.
Doesn't look like there'll be any production any time soon, as there are no economic reserves in the BL and snow will be falling pretty soon.
IMO, the only hope is for next year's turnip crop and prices.