Barkerville Gold Mns Ltd BGMZF

SGR update

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https://ceo.ca/2015/04/16/morning-news-trevali-mining-and-san-gold/

San Gold – (SGR:TSX) – San Gold is the latest gold producer to suspend mining operations. This is following news of Allied Nevada going bankrupt last month. If the gold price continues at current levels I would expect to see more of this in the next 6 months as these marginal producers can just not make money at these prices.

San Gold stock was $1.50 in 2012 and now can be had for 2 cents.

Other names I feel are vulnerable are Luna Gold and Gran Colombia Gold. These two producers have serious balance sheet issues.

2015-04-16 02:21 ET - News Release

An anonymous director reports

SAN GOLD EXPANDS SHORT-TERM OPERATIONAL CHANGES

San Gold Corp. has expanded the scope of the temporary operational changes initiated at its Rice Lake mine in March, including the suspension of all mining operations. The changes are being implemented to conserve cash and reduce the potential for additional short-term financing as the company completes its sales and investor solicitation process. These changes are being made as a result of continued weakness in gold prices and the lack of availability of new financing.

The company is continuing to mill previously mined ore and will subsequently begin the process of recovering available in-process gold inventory. Gold obtained from this process will be used to finance the costs related to maintaining the company's Rice Lake assets as it completes the continuing sales and investor solicitation process.

We seek Safe Harbor.[/