Barkerville Gold Mns Ltd BGMZF

RE:RE:RE:Company debt free on 1 July 2015.

[pigbruinmcveid]

A very impressive result overall IMO. 

So bankrupcy is now unlikely at least not before Feb/15 financials.

Of course the question is what did current shareholders gain from the Sprott investment? Roughly a 50% dilution and no further advancement on the properites.

BL mining is over. Looking for new scenarios there.

CM still doesn't have a scoping study.

So the question now is whether we'll see sub 10 cent or over 100 cents first?

Sprott must really think BGM is worth something otherwise, he have tried to buy it much cheaper IMO. He didn't probably because he didn't  want to risk losing it to an outside bidder.

Very interesting.

Of course, not every Sprott investment shows a profit. He has had some big losses in the past if memory serves me correctly.  And he does owe Mr. Market a wee bit of regression to the mean....

Interesting indeed.

halcro wrote:

hammer161 wrote:
Who said they were debt free after paying off Sprott? They were in debt on other fronts already. Also what money are they moving ahead on to that "brighter future"? For $15M up front you just gave up 40% of the company. Sprott must be very happy - $15M for 2Moz of the resource - that is just $7.50/oz. - a LOT LESS than most of you longs and pumpers think that BGM should get or is worth. Still happy? Any thought on tomorrows trading?

Actually, Sprott's limited company got paid 3,015,030 31-cent shares ( $934,662.09) on 2015-03-11 for interest up to 2015-03-09. On 2015-03-23, Sprott's limited company got 14,296,479 shares to settle $3,854,649 in debt which, based in the 4,167-ounce nut at $1,450. seems to mean that Sprott's limited company got $2,187,501 in cash along with the $3,854,649 in shares.

Here it is, on June 8, and Sprott seems to have received $934,662 in shares, $2,187,501 in cash, $3,854,649 in shares...and another $19 million in shares for a $15-million loan made on 2013-10-09.

So, over a 19-month period, Sprott seems to have been paid $25,976,812 to settle a $15-million loan.

That $14,976,812 works out to $788,253 per month...5.26 per cent per month, or else 63.06 per cent per year.

Talk about pay-day loan rates.

You'se bagholders were fooked before...now you're fooked bowlegged.