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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

Comment by pigbruinmcveidon Mar 07, 2016 2:35pm
141 Views
Post# 24631146

RE:RE:reply to chilly -- Stockhouse isn't working very well these

RE:RE:reply to chilly -- Stockhouse isn't working very well these Chilly, read more closely if you are really interested.

The PG report was also rejected at Rubicon and redone by Snowden. But Snowden didn't change the geological interpretation in the rework. It wasn't until pre-production failed that Rubicon got a new interpretation on the deposit and that reinterpretation translated into a 80% cut of the redone PG report.

It appears goldcorp is just going through the re-interpretation stage now since they moved Cochenour out of production forecasts and back to advanced exploration.  In the case of goldcorp they reported "good results" right up to Q3/2015 financial reports. Rubicon declaired fiasco in Q4/15. But both had several post PG reports done but obviously the underlying interpretation of the drill results was wrong. I'm not actually blaming anyone. Just saying these nuggety deposits are darn hard to get right. The fact that Goldcorp messed up to the tune of over $2B written off (actual impariement charges for full year 2015 were $4.9 billion). Rubicon used top shelf firms for their estimates post PG and Goldcorp has 100+ years of experience in Red Lake. Yet both didn't abandon the original PG report until pre-production failed.

So you have to ask yourself how will the first real bulk test at Cow Mountain going to turn out. I have reviewed the BGM technical reports and just like Rubicon, the original PG report was redone but I don't believe the magic words of geological re-interpretation have been stated... and how could BGM be there since they haven't even done a scoping study and certainly have not done an bulk testing let alone pre-production mining.

Geological re-interpretation, translated into layman terms, means, we do not have a clue about what is going on but we will continue to spend money to find out why our original data science failed. JMHO of course. I've never been to a mine site in my life.

chillyballs wrote:
Oh Piggy... how cute. Another non-answer!  PG's report was indeed rejected. 1 point for you. However, Snowden...with additional drilling came up with different results and they were scrutinized beyond all scrutuiny by the BSSC and accepted.
Now to make things even more palatable, current mgmt is doing what... more drilling to verify and have found new areas of deposit and veins although someone61 might want to refer to it as simply expanding the current findings which by the way is never a bad thing.
...and Piggy.... do you really consider me to be your friend....    Again.... how cute!!!


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