Barkerville Gold Mns Ltd BGMZF

RE:Try this metric of Moving Target Valuation

[hammer161]

I will address some of your "non-factored assets": 1) BL production and mill - at best BGM will make enough money off BL to pay off most of the ES loan - no more. The mill is a 900 TPD facility that will be of no use to possible future higher tonnage - lower grade use. 2) The size of an IM resource is speculation only. Recent drill results do not suggest an open pit scenario - only a higher cost underground operation. 3) CM Resource - recent re-assay programs may give an increase and may help convert inferred to indicated but my guess is that inferred will still be the higher proportion of the total. 4) The Goldstream mill is an aging asset that has not operated for at least 15 years. Also not properly sized for a potential CM sized operation. 5) The tax loss pool is only of use is BGM makes a profit. Does not appear to be the case so far with BL and any potential production from CM or any other zones is years away. Most of the "non-factored assets" are not assets at all. In fact they may end up as liabilities.