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Barkerville Gold Mns Ltd BGMZF

Barkerville Gold Mines Ltd is a Canada based company operates in the business of Gold. It is engaged in the production and sale of gold, and the exploration, development, and acquisition of mineral properties in British Columbia. The mineral tenures cover approximately 2,000 square kilometres. The company primarily holds interests in Cariboo Gold Belt District, Island Mountain, Cow Mountain and Barkerville Mountain.


OTCQX:BGMZF - Post by User

Bullboard Posts
Comment by yaponskion Mar 01, 2014 7:00pm
106 Views
Post# 22268855

RE:[PVG Mining Permits]

RE:[PVG Mining Permits]
boss_waz wrote: If I recall correctly (from the recent PVG online presentation), PVG will apply for permits this summer, and expects to open in 2016....
Now I dont think the 'permits' themselves are on the critical path, or at least, there are many other steps on the critical path to get ready for startup in 2016.

Point being, if PVG can go from request (permit) to operations in 1.5 years (or so), then so can BGM...and I dont think the permit is the biggest factor...

Political will makes projects happen, and in a timely manner...creating jobs etc...
Special interest groups can and will be dealt with if the will is there...and so far Kristi seems eager....




PVG is a good data point but I expect the EPA studies have been running for many years already in preparation for the permitting process. And there are upwards of 40+ permits to be had.  And the permit is a huge factor on T'Silhoqt'in land -- it is exactly the permit that has delayed New Prosperity for 8+ years.

Even at 1.5 years, any production would then be at least another few years further out, well past the time frame when Sprott needs to be repaid.

I also expect that PVG is spending considerably more on mine development than a few $100M.

So, point being, there is a bump in the funding carpet that just can be smoothed out. Financial troubles will continue IMO. Only solution is a rapid rise in the price of gold which in turn resets market valuation of in situ resources... 

If you look at production history, I believe 2011 was the biggest production year in the last 10. Here is what the year end  (feb 2012) had to say about that year


The Company reports a net loss of $29,733,648 for year ended February 29, 2012 or $0.38 $per share as compared to a net loss of $23,534,901 or $0.39 per share for the year ended February 29, 2011. Overall, this represents an increase in losses of $6,198,747. The Company earned $15,942,023 of revenue during the year ended February 29, 2012.

....

For the year ended February 29, 2012, the Company mined 89,903 tonnes and processed 95,811 tonnes of ore at an average grade of 3.264 g/t and produced a total of 10,906 oz of gold dore at the process recovery rate of 79.8%.



So, I completely fail to see why 2014 is going to be better with a bill of what 8,000 oz due to Sprott. Just saying... the outlook doesn't look that good since I don't see what has changed between 2011/2012 and now that all of sudden BL production is going to be wildly profitable as the BBoS is want to inject time and again. Plus in 2014 you also have 8,000 oz due to Sprott (money already received and spent).

When I look at these facts, and then see the positive spin the BBoS (and you too there boss but you at least try to inject some reason), I can't help but think this stock is being pumped and you all know what comes after the pump.  Just reading the tea leaves at the bottom of the cup here girls...

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