OTCQX:BGMZF - Post by User
Comment by
hammer161on Dec 12, 2014 4:07pm
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Post# 23225712
RE:RE:The value of the 5 million ounces of gold in the ground is 5
RE:RE:The value of the 5 million ounces of gold in the ground is 5
TD - the value of an ounce in the ground depends on a lot of things and just because an pounce is in the ground does not necessarily make it worth "WAY WAY more than$5/per". The first thing is the classification: resource ounce or reserve ounce? In the case of BGM they are all resource ounces and 80% are inferred, no demonstrated economic viability. Many would argue that a good portion of the inferred resources, based on historic holes with no QAQC, shouldn't even be included. Then there is BGM's financial situation (dismal), company history (how many rollbacks?) and poor management (they don't even believe in the project given a huge lack of insider share ownership). I could go on but there really is no need. Kind of take the shine off any pie in the sky in the ground gold valuation - don't you think?