RE:RE:RE:RE:RE:Debt Settlement with ERIC SPROTThammer161 wrote:
Too funny that people here are to stupid to realize that they are being diluted when it happens. A little smaller? Just settling this piece of debt costs over 10% dilution to shareholders. Can you imagine what it will take to actually pay back the loan itself? The fact that they are issuing shares now (again) means they don't have any funds.
The March 17, 2015, news release seems to indicate that 8,601 ounces of gold were produced in 2015 (21,000 tonnes @13.41 grams per tonne @ 95 per cent is 267,530 grams @ 31.1034768 = 8,601 troy ounces).
Even with that three-month production of 8,601 ounces BGM has, in February and March, 2015, settled $4,789,311 in debt by agreeing to issue 17,291,518 shares tp Sprott’s numbered company.
Valued at the current share price of 25 cents, those 17,291,518 shares are now only worth $4,322,879...a paper loss of $466,432 (9.74 per cent)