Barkerville Gold Mns Ltd BGMZF

RE:RE:PP traunches are getting smaller

[yaponski]

halcro wrote:

yaponski wrote:

TORONTO, ONTARIO – March 19, 2014, Auriga Gold Corp. (TSX-V: “AIA”) (“Auriga Gold” or the 

“Company”) is pleased to announce that it has closed on an additional tranche of its previously announced non-brokered private placement for aggregate gross proceeds of $17,500 through the issuance of 50,000 common shares (“Common Shares”) in the capital of the Company at a price of  $0.35 per Common Share. 

 

The previous closes weren't much better either. $336K in Febrary and $162K earlier in March.

So, all in all, BGM deserves a warm round of applause for getting as much of the planned placement down as they have.  But given stock price action, I doubt there will be too many double dippers going in for more. IMO BGM should have included some 5 year warrants...

Erm, YP...on first glance, I can see two things things wrong with that:

1...Imagine how ballistic the BBoS and his ratpack would be to see five-year warrants with a 60-cent strike price

2..To inspire investor confidence, wouldn't Sprott have to say that he'd honour the five-year warrants, come what may?

Halcro,
You may be right. I forgot about the BBoS factor.  

Still, what do you think about a rights offering (transferrable) at say 20 cents?  Roller and girls would no doubt love to get such cheap shares and there there wouldn't be any Sprott warrant issue. And if the right is transferrable then they should all fill. Lets see,

115M shares at 20 cents equals 23M... lots of cash for those drilling programs required to build up the resource. Drill, I expect, is much easier to do than actual mining.

Still, should be interesting to see the monthly progress reports from BL. You never know until it happens... well, I guess we both know that the full 2014 year will be a record bottom line net loss.