OTCQX:BGMZF - Post by User
Post by
thasison Jun 26, 2013 2:00am
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Post# 21572820
Frank is off and running
Frank is off and running
Barkerville Gold Mines Ltd. (BGM), which has been halted at $1.22 since last August, has received some flattering press from the Financial Post. In today's coverage, president Frank Callaghan admits he made a mistake telling investors Cow Mountain contained 10.6 million ounces of gold indicated. He also says he has learned his lesson.
Mr. Callaghan has spent the past two decades promoting the project and learning lessons, during which time regulators have forced Mr. Callaghan to retract or clarify his statements five times. The learning opportunities began in 1997 with the retraction of some sludge samples. In 2000 it was a "measured and probable resource in excess of one million of ounces of gold" and production projections that needed retracting. In 2003, the BCSC made the company clarify that its prefeasibility study was in fact a scoping study, because it had not established mineral reserves; and in 2011, following two 1:10 rollbacks, the commission made the company separate inferred resources from its measured and indicated.
Now a wiser man, promoter Callaghan is busy talking up the exciting news to come. He also told the Post that he believes those numbers (10.9 million ounces indicated) will be vindicated one day.