OTCQX:BGMZF - Post by User
Comment by
pigbruinmcveidon Jun 26, 2015 10:56am
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Post# 23872109
RE:Fourth quarter unpeeled
RE:Fourth quarter unpeeled2015 Year In Review
- Q3 was the hail mary attempt with the highest Q production. Q4 production crashed because Q3 probably high graded without regard for the future
- 2015 full year gold production set a record high for the company, but still well short of the once promised 50,000 oz a year
- 2015 full year losses also set a record... funny that, but not surprising since by any reasonable metric, all operation was at a loss
- Drill program is 20K limited by financing -- hope was for 50K which may still happen if the full PP is realized
- talks with so called first nations have restarted. To what end? Perhaps just bridge building for the future.
- write offs reflect valuations of roughly $8 per ounce. If the price of gold continues to drop, that valuation will also drop. When gold was at its peak around $1900, the in situ valuation would have been well over $50 if not $100 per ounce. What will the valuation be at $1000 gold? At some point it drops to zero when there is only waste rock.
Future of BGM is coupled to the price of gold and latest look at price of gold is sideways to down. That is all she wrote....