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halcroon Dec 17, 2015 1:01pm
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Stockwatch Gold Summary
Stockwatch Gold SummaryGold Summary for Dec. 16, 2015
2015-12-16 20:57 ET - Market Summary
by Stockwatch Business Reporter
Eric Sprott and Thomas Obradovich's Barkerville Gold Mines Ltd. (BGM), unchanged at 23 cents on 293,000 shares, has received assays of up to 7.87 grams of gold per tonne over 15.05 metres at its Cariboo gold project in the Cariboo district of British Columbia. These are not bolts from the blue as Barkerville has been producing higher-grade assays from its latest drilling since summer. The company plans to run a modest mine at Cariboo, based on a now two-year-old dream of the Bonanza Ledge deposit that suggested a 200-tonne-per-day mine could be profitable. (Barkerville did produce 24,000 ounces of gold over the past few years based on the plan.)
Mr. Obradovich replaced Barkerville's long-standing, and occasionally controversial, president and CEO, Frank Callaghan, in mid-2014. Mr. Callaghan had been earning $240,000 per year at the time; presumably Mr. Obradovich is doing about as well.
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