Post by
BywrongK on Sep 08, 2018 12:34pm
Ask the CEO........last NSR was done ....
.....TORONTO, March 27, 2017 /CNW/ - Barkerville Gold Mines Ltd. (TSXV: BGM) ("Barkerville" or the "Company") announces that it has entered into letter agreement ("Agreement") with Osisko Gold Royalties Ltd. ("Osisko") whereby Osisko has agreed to purchase an additional 0.75% net smelter return ("NSR") royalty on the Cariboo Gold Project for a cash consideration of $12,500,000 (the "Royalty Purchase"). A year + later, $10's of million$$ of dollars spent later.....TORONTO, Sept. 06, 2018 (GLOBE NEWSWIRE) -- Barkerville Gold Mines Ltd. (TSXV:BGM) ("Barkerville" or the "Corporation") is pleased to announce that it has completed the previously announced C$20 million royalty purchase transaction with Osisko Gold Royalties Ltd ("Osisko"), pursuant to which Osisko acquired from Barkerville a 1.75% net smeller return ("NSR") royalty (the "Royalty Purchase") on the Cariboo property (the "Property") for the aggregate purchase price of C$20 million (the "Royalty Transaction"). Hasn't the project been derisked by what's been done over the past year? Is the gold you are finding becoming more expensive to mine? IMHO that's a massive CEO FAIL...$12.5M for .75% and now only $20M for 1.75%...plus the NSR had to be sweetened with 10,000,000 warrants...for 3 freaking years. Perhaps also ask...where is the cashflow from QR mill that was supposed to be paying for exploration by now?
Comment by
hammer161 on Sep 08, 2018 2:33pm
Good and very valid observations BywrongK. Good clarity for shareholders. There was also the option for a further 1.00% NSR for and addtional $13 million under certain conditions. If that goes ahead Osisko Royslites has a total NSR of 3.75% in return for $45.5 Million Canadian.
Comment by
FlyingV67 on Sep 09, 2018 6:09pm
Valid questions and concerns, hopefully we see an update on the mill production shortly. However I think this is the best way to raise capital in the current market enviornment with minimal dilution to shareholders. The funds will be used to increase the proven reserves and that will translate into shareholder value. Osisko obviously has great confidence in the project.