OTCQX:BGMZF - Post by User
Comment by
yaponskion May 07, 2014 11:09pm
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Post# 22536865
RE:RE:How bgm can make money and pay its bill
RE:RE:How bgm can make money and pay its bill
Parsnipguy wrote: They will need more money soon to be able to produce more gold to be able to Pay Eric Sprott back.Revolving door of shares dilution.Its virtually impossible to keep issuing stock to keep the mill running producing gold at a loss.Shut er all down until they can get er right.
Not a half bad idea if it had of been executed before signing up with Sprott. But now, it is either stand and deliver the gold or give up the company.
When Colossus failed to deliver to Sandstorm on a stream contract, the shareholders were left holding a bag that held a mere 1.7% of the refinanced company. Sandstorm down down 40%.
So, Sprott might be a shareholder but he definitely not the bag holder as he'll probably stand to get a huge percentage of a reformed company after the company comes out of court controlled restructuring.
Maybe a hail Mary would be do a rights offering at say 15 cents a share. Should raise enough to pay off Sprott. Then shut down all production. Lay off massively and wait for the POG to rise. It will one day but not this week or this month.
Just a suggestions...