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Barkerville Gold Mns Ltd BGMZF

Barkerville Gold Mines Ltd is a Canada based company operates in the business of Gold. It is engaged in the production and sale of gold, and the exploration, development, and acquisition of mineral properties in British Columbia. The mineral tenures cover approximately 2,000 square kilometres. The company primarily holds interests in Cariboo Gold Belt District, Island Mountain, Cow Mountain and Barkerville Mountain.


OTCQX:BGMZF - Post by User

Bullboard Posts
Comment by glorieuxon Dec 06, 2012 2:09pm
188 Views
Post# 20693946

RE: News AGM

RE: News AGM

Financing details:

As Mr. Harbour sees it, the company desperately needs to raise money to continue operating. He says that a group of investors that he supports is prepared to invest in a private placement of between 25 million and 50 million units, at $1. Mr. Tomsett, who the petition describes as a "senior mining executive with the necessary experience," would be entitled to acquire up to 40 million units

There is no warrants to be attached here and we are talking between 25-50M units with Tomsett himself owning most of these shares.  I actually like this deal.  I like it alot!!  For a dilution of 18.5% to 37%, we will have the cash in the bank necessary to clean up our balance sheet and move forward in an agressive manner.  We will have the managment that can deliver the goods.  Most importantly, we will have respect from the market for our company and our share price will move up. A PP at $1.00 seems like a steal for the potential resource that we have BUT, look at our average share price in the last year.  Most of us here have averages under this price.  I will vote for this in a heartbeat if and when I can.

My reasoning for this is based on the value added vs the dilution.  Even with a 37% dilution, I believe we are getting more than that return.

Feel free to cut this up but this is my opinion.

Glorieux

Bullboard Posts