Barkerville Gold Mns Ltd BGMZF

RE: RE: RE: RE: RE: RE: Pretty Obvious

[RedHorizon]

Newfie:

I think the discussions of bankruptcy for Barkerville are unreasonable since they have minimal debt ($4M of convertible debt on which they are current).  From my call 2 weeks ago I was told they had $3M cash in the bank.  And they have pared expenses to the bone while waiting for the permit and reports.  Fraser told me that they should not need another financing until the end of the year.  The hope is that by then we have the reports out, possibly the permit, and therefore the stock would likely be higher.  It is also important to consider that getting Bonanza Ledge into production is supposedly a minimal capex issue once they get the tailings permit.

Separately, there have been a bunch of gold stocks on my screens yesterday and today down double digit percentages.  This is how a bear market ends, with panic.  And people getting margin calls so they sell at any price.  Meanwhile, gold itself is barely changed on the year.  I see this as a buying opportunity in the gold stocks.  And of course, I will AVOID USING MARGIN.

GLTA