OTCQX:BGMZF - Post by User
Comment by
blackjackallon Jan 30, 2015 12:19am
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Post# 23380670
RE:BGM in arrears with BC Gov. for reclamation bonds as well.
RE:BGM in arrears with BC Gov. for reclamation bonds as well.In light of the Mt Polley disaster I doubt the government is in the mood to "renegotiate" away bonding requirements. I just don't see how or where BGM will get the money to pay the ongoing bonding requirements. Are they even mining right now since they may be in breach of bonding requirements. God forbid if there is an environmental issue at the facility and the government was dumb enough to let them extend. The government would be liable. I didn't realize the bonding issue until you highlighted it. This puts even more financial pressure on the company to say nothing of the ttrade payables and gold loan. If you don't get proper bonding there's no mining permit. No mining permit means no mining. No mining means that sound you hear off in the distance is the fat lady singing.