OTCQX:BGMZF - Post by User
Post by
hammer161on Mar 04, 2016 3:30pm
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Post# 24623852
As you know Chilly....
As you know Chilly....
.... we all have our opinions here. I like to base mine on what is known - the geology and configuation of mineralization (small poddy lenses), the unproven economics of any zone on the property, the poor quality of the resource estimate (acknowlegded by current mgmt), let alone any permitting and FN issues - so yes I have doubts about the project in the long term. The new management is approaching things in a much better and professional way than their predecessors and there may well be undiscoverd potential. However, you and many of the others who are keen on this company seem to feel that an enormous, ecomomic gold mine is already there, despite that fact that no studies backing that up have been made. Perhaps it is the source of the money that makes you feel that way (Sprott, Osisko) and so comfortable about things - but just because they have a big pot of money to spend does not automatically mean that it will be successful, does not mean that there is an economic deposit, and it does not automatically mean that the SP should be several dollars. I would argue that putting another 30,000 metres of drilling into a sketchy resource, centred on a fairly extensive old mine does not make as much sense as trying to find the next one their land package - but perhaps they feel it is their best shot. If new studies or results are not positive, and no assumptions can be made that way, it can easily crater. Anyhow keep on getting your knickers in a twist about opposing opinions if you like - makes no difference to me.