Barkerville Gold Mns Ltd BGMZF

RE:BGM long report

[pigbruinmcveid]

Halcro,
Yes, my bad on the issued share count. 

Sure looks like BGM will need at least one more rollback to get into "good shape". I must be crazy to have this on my buy list, all be it at the few penny level... well, not much danger of bgm breaking into the teens this month so lots of time to plot entry/exit moves.

I don't believe there is a specific rule about having to go private since I recall see (forgot the names though as gold miners are terribly forgetable these days) a few instances where a parent owned 60% plus of some junior and the junior continued to trade...

And the billies here just love the idea of holding right along side of uncle e's strong hands. Hard to say... still, I definitely see either a roll back or perhaps a rights offering followed by a roll back....

so go BGM go... or don't go... in either case its all good, eh :)

halcro wrote: quote=pigbruinmcveid]Amounts are kind of not that interesting given, what ~160M shares outstanding and 40%+ controlled by one group. &

 

Actually, the issued and outstanding is now 226,642,168, and Eric Sprott's numbered company holds 90,783,131. Other Sprott entities likely hold about another five to 10 million shares, and Sprott's buddy, Ian Gordon (and Janice Advent and their Long Wave entities) holds 3.9 million shares.

Other Long Wave entities and Long Wave clients could hold as many as five million shares, and other directors likely hold another 2.1 million shares.

That's about 112 million shares, which is about 49.4 per cent (isn't the threshold 51.5 per cent for going private?).