OTCQX:BGMZF - Post by User
Post by
idleintruderon Mar 13, 2013 8:19am
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Post# 21121148
Worth Remembering
Worth Remembering From C. Wells: Potential Reason
For the Big delay is that management realized that it is not in their best interest to iteratively release cow mountain, then Bonanza Ledge then Mosquito Mountain, then Barkerville mountain etc etc. To get top value for the property they must have all their ducks lines up when this thing starts trading again, especially if a bidding war breaks out. We need to have calculated proof of our entire resource, not just cow. If New Gold is to buy us, they will need proof for their shareholders that they are getting good value for their money. If they were to offer $2 Billion for the entire land package then it will look much better if their shareholders see that they are receiving 20M ounces with a huge upside potential. I beleive a sale could happen very quickly once we begin trading again.
Proof that the property resource will be epic is the length of time Snowden et al. are taking. BGM can not afford this kind of effort so it appears everyone involved is quite confident that they will be paid for their services. A dud report would leave these parties holding the bag. They would have done the bare minimum to get the report approved, or they wouldn't have accepted the job in the first place. This report will be so tight that no body will be able to screw it.
Another thing which I mentioned in the past is that our Board of Directors are holding strong. Usually when companies are in trouble the first thing to happen is that the entire board resigns.
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