RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:[Ask Yourself]
Ok so you seem to be as stubborn as I am....according to my wife....
So if BGM in the 2009 PFS projected a profit for BL ore, and the high target for gold in that PFS was at 1050, and the costs were 600ish, and Snowden uses a %10 uplift for costs since 2010, then in my scenario:
- uplifting original BL PFS costs since late 2009 would put them at say $650 (not including %30 risk)
- gold at 1600 would add $600 to their 'high' end projection...making profit potential near $900 (not including %30 pfs risk)
Not sure what the projected profit from QR ore was (or the actual however you indicated dismal performance during QR milling periods)...however if any official reports published on SEDAR are to hold any meaning whatsoever, then BL milling at $1600 gold (in the hypothetical scenario) should yeild profit.
So, in my opinion, $1600 would be very profitable for BL ore, $2000 would be extremely profitable for BL ore....
May be a moot point if gold falls or remains at current levels...but exploring scenarios does provide perspective....
I believe the difference is in how one measures profitability.
You appear to want to use spreadsheet numbers... while I am waiting to see financial statements that show either a profit when one defines profit as top line revenue minus bottom line net dividied by ounces of gold produced to get an all in cost of production. Then compare the result with the average gold price for the quarter and I'll tell you who made a profit. And when I apply this metric to BGM, BGM has never come close to producing a profit.
Sure you could argue that I am including one time charges and well, since I look at bottom line net, then yes, I am including all one time charges. A brute measure but given the widespread abuse of shareholders by companies in the gold sector, a reasonable measure all the same.
I could see going for a company that showed quarter over quarter decreases in cost of production trending to a profit in a few quarter.. But I need to see it in a quarterly financial statement before I'd believe. If a company had a track record of deliverying on projections then I'd also give some though to such, but BGM IMO fails miserably in deliverying on projections. Again, this is a fact fully supported by the documents filed for ever and ever in Sedar.com.