Barkerville Gold Mns Ltd BGMZF

RE:RE:RE:RE:RE:Worth the shot

[pigbruinmcveid]

Please see my question to rockcod. It applies to you as well.

How do you figure having Sprott holding a note secured by all of the BGM assets is a good thing for you assuming you are holder of BGM paper. This is especially true since if you had of read the most recent financials you'd see current liabilities are much greater than current assets.

It might be the case that just as Sprott dump the old management team, it will be in Sprott's best interest to also "dump" the old shareholders by converting his current debt into shares of the new company.

Maybe Sprott wants to hold BGM as an cheap long term call on the price of gold. Such an option would work out best if the company was restructured to minimize spending overheads and "fairly" distribute equity to the new investors (e.g. the debt to shares converts).

Still think it is good to have Sprott in the mix?

I know, I know I had promised to wait for news before posting again... we'll didn't quite make but I will try harder next time :)

blessings20 wrote: Still havn't told me who you are. I see Sprott all over this. Through these tough times I know they dumped alot of Gold companies& they seem to want to go ahead with this one. I might not go in depth too much as I look at this but I do see Sprott & a lot of green on the Canadian insiders. When I phoned BGM they seemed positive & 5 million ounces does sound pretty good. Price looks low . So still look at it as WORTH THE SHOT.