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Barkerville Gold Mns Ltd BGMZF

Barkerville Gold Mines Ltd is a Canada based company operates in the business of Gold. It is engaged in the production and sale of gold, and the exploration, development, and acquisition of mineral properties in British Columbia. The mineral tenures cover approximately 2,000 square kilometres. The company primarily holds interests in Cariboo Gold Belt District, Island Mountain, Cow Mountain and Barkerville Mountain.


OTCQX:BGMZF - Post by User

Bullboard Posts
Comment by halcroon Jun 11, 2015 10:57am
66 Views
Post# 23820018

RE:RE:RE:RE:RE:Funny as hell!!

RE:RE:RE:RE:RE:Funny as hell!!
pigbruinmcveid wrote:
halcro, who appears to have gone totally soft... wrote:

I'm sure that he'd rather have his money back but, fantasy aside, reality is that he'll likely have 85,478,564 shiny (and not-so-shiny) shares pretty soon.

At today's current price of 24 cents, they're worth $20,514,855. I don't think that he'll have put much more than $21 million into that pile of paper, so he's likely not too far underwater.



What?

Is the internet on today? What?

You think "he" isn't too far underwater? LOL.

What do you think would happen if "he" tried to sell say 10M shares?  How low would the price go?

Well, I guess it depend on how one defines "not too far under"... and from a market mean reversion point of view, I guess 95% under would still not be nearly enough given the gains "he" made in Mexico... :)

IMO his eulogy might well read, "he made a killing in the Mexican junior miners but left a lot of those gains in a hole in BC...."  Given the way "he" is approaching the Caribou, I expect he will leave a lot more than 20M in them there there holes if his $2400 gold doesn't happen... just saying... IMHO...


Well, it does seem that he and the fellow gold bugs feel that the price of the last two years is just an unusual aberration, which will be corrected (and how!!!) as gold resumes its trajectory to $2,400 (U.S.).

If he can believe that, then why not believe that his BGM paper is worth every penny of what he paid for it and, as a true believer, why should he test his beliefs by throwing 10 million shares into the market and watch it plunge, San Gold-like, to $0.005?

Nope, Sprott Inc gold-based shares aside, gold is worth $2,400 (U.S.) an ounce (Mr. Market is wrong!!!), and BGM paper is worth north of 30 cents (Mr. Market, at 23.5 cents, is wrong, wrong, wrong!!!).

The late and lamented Murray Pezim often opined that paper is for selling (good, bad or indifferent, sell it and pocket the coin of the realm). The BGM bagholders should be thankful that Sprott is hanging on to his, otherwise they'd be hung out to dry.

Of course, the BGM paper-printing plant does need to do something to get some coin of the realm into its own pockets, as giving paper to creditors is an ever-diminishing process.

Fire up that equipment bought from San Gold!!! Get those miners underground!!! Get those trucks rolling between the BL and the mill!!! Get those tailings ponds filling with waste!!!

Get the show on the road and let the dividends tell the tale of the Cariboo riches!!!

Or not, LOL!!!
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