Barkerville Gold Mns Ltd BGMZF

RE:RE:Barkerville agreement for Grouse Creek NSR

[halcro]

RE:RE:Har he har, har: 800,000 shares @ 9.375 cents

https://www.stockhouse.com/companies/bullboard/v.bgm/barkerville-gold-mines-ltd?replyto=24169226&threadid=24168984&source=bullboard

halcro wrote:

halcro wrote: Watch those 9.375-cent shares fly off of the shelves, LOL.

I'll do the math...800,000 shares to cancel $75,000 in debt, That's 9.385 cents per share.

Don''t bode well for the next PP, right?

Pursuant to an option agreement dated Sept. 12, 2000, between Istana and Golden Cariboo Exploration Ltd., which agreement and the rights and obligations thereunder were assigned to the company, Golden Cariboo acquired certain mineral claims which now comprise a part of the company's Grouse property. Under the terms of the option agreement, Golden Cariboo had agreed to pay Istana annual advance royalty payments of $50,000 commencing in September, 2010, of which, royalty payments in the amount of $225,000 are currently outstanding.

Under the terms of the settlement agreement, the company agreed to pay Istana a cash payment in the amount of $150,000 and issue an aggregate of 800,000 common shares of the company in settlement of the outstanding advance royalty payments... Istana will continue to retain a 3-per-cent net-smelter-return royalty on the mineral claims, and BGM shall have the right to purchase one-half of the NSR from gold and silver, and two-thirds of the NSR on base metals and other minerals for $1.5-million on or prior to commencement of commercial production.

Remember those half-million-more-or-less shares which popped up on the TSX.V insider sales list in Augusts?

While they aren't on Sedi yet, that selling at 25 cents would be brilliant in light of the 9.375-cent-per-share strike price for the latest paper-for-debt transaction (and don't forget the accompanying $150,000 cash payment).