Banks Island Gold Ltd BKSLF

RE:RE:RE:RE:RE:? for ME UBC

[bxju]

I did misunderstand your #'s.  The way SH jumbles pastes, it was impossible for me to read your earlier tables. I will add that the market in this microcaps, seldom moves in predictable ways.

I totally agree that they badly need an updated 43-101 resource report.  I think all agree that there is a lot of gold on the Island but without it being in a compliant report, it is of little value.

In looking back, I see a lot of mistakes made. One of the main being buying Red Mountain so early and before they had their first project even planned our properly.  Then wasting much time time and $ on a much larger new prioject and then giving it back and writing it off.  The design of the plant seems to have been poorly planned. I also wonder if they should have called the gold loan a current liability?  By doing that, based on 3Q #'s, that equates to a current ratio of .12, not exactly what an investor wants to see... however that same report has the book value at .29 share. 

 There were also some overzealous interviews by the 2 main execs., including one where they were talking dividends very early in the game, that would have been best left unsaid imo.  One of the reasons BOZ caught my eye, was their touting their experienced "hands on" Mgt team and the low start up costs.  Had they not spent $millions on Red Mt, then abandoned, they would have been able to concentrate on their primary project and maybe not had all of the start up issue and having to go back and raise all of the extra money last year that surely put downward pressure on the stock, etc.

They made some pretty bold projections recently and I think it is time to finally show the shareholders they can pull this off and pull it off starting now.  I do think they are a hard working team and unlike some of their peers, I do not see them paying themselves outrageous salaries or spending a lot of $ on perks, fancy offices and other perks.  I think shareholder patience is wearing thin, at least in my case.  

The annual #s should be out soon and I don't think they are going to  be pretty, hopefully they can have some good news on May production and maybe an update or 2 on progress before they are posted.

Just my >.02 on this.