Barkerville Gold Mns Ltd BGMZF

A Rights Offering in The Future

[pigbruinmcveid]

Redrilling a percentage of the historic holes, to test whether or not any of the -1 zones were high grade gold sulphide zones that got lost because of a poor drilling process (use the wrong mud), is going to take a few dollars.

IMO uncle e probably believes redrilling is a reasonable play with a long term pay back in which case, uncle is likely to want BGM to do a rights offering -- right to buy a share of company at $0.xx based on the shares hold on yyyy-mm-dd.

If nobody else goes for the offering, well, uncle e just bumps his stake in the BGM to roughly 75%. And if everyone goes for it, well, no problem, the company raises more $$s and uncle e still holds nearly 50%....

Follow it up with a shareroll back in a year to so (every management team should be given one share roll back so the mess created by earlier management teams can be pushed aside... kind of like a Mulligan in golf... perfectly reasonable and everyone does it, except, me I don't golf :)

Something to look forward to as all wait for this gold bear to finally come to an end...