OTCQX:BGMZF - Post by User
Comment by
yaponskion Sep 27, 2013 10:29pm
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Post# 21774995
RE:RE:Sprott Finance
RE:RE:Sprott Finance>>Asa you say he could earn the whole darn company in default.And yes the only way I see BGM to keep going is a ton of dilution.<<
Comments are right on. There are many instances of gold loans failing and the gold loan holder taking over the mine, typically to sell out to recover loan value. Looking at the gap between what it takes to produce gold on a regular basis and what BGM has demonstrated in the past, fail to deliver has to be high probability scenario.
This gold loan is a second last gasp before attempting mega financings at the 5 cent a share with those beautiful 10 cent warrants before the 20 to 1 rollbacks... Yes, mega dilution is best case scenario IMO.
Sure makes that Rexx et all offer of 50M shares at $1 a share look like a fanastic offer, were it only avaialble today.