OTCQX:BGMZF - Post by User
Post by
yaponskion Dec 19, 2013 5:39pm
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Post# 22024490
High Grade Gold, Fully Permitted, Mill, On Grid, access
High Grade Gold, Fully Permitted, Mill, On Grid, access I see that Claude Resource has sold off their Madsen project in Red Lake for roughly $3 per ounce of gold.
https://www.newswire.ca/en/story/1283063/claude-enters-into-agreement-to-sell-madsen-gold-project
The Madsen project is fully permitted, with a mill, excellent roads and hydro on site and close to 1M oz Indicated.
So how much do you think BGM's resource is worth relative to that benchmark? Roads? Hydro on site? Plus permits in hand has to be worth a bit of premium when you consider the costly delays at New Prosperity.
Assuming the pluses balance out the minuses (Cow Mountain has huge potential) but no permits and other factors, puts BGM fair market value at 15 cents roughly. With a close at 41 cents, I guess BGM holders should consider it a very merry xmas offering indeed. Not as much as you might like but my what a brutal bear market we have out there... and there is no end in sight is there.