Barkerville Gold Mns Ltd BGMZF

what is gold worth in the ground ?

[Bywrong]

Pretty good article here

https://www.goldgeologist.com/mercenary_musings/musing-150601-The-Real-Value-of-Gold-in-the-Ground.pdf

The gold deposit was ultimately acquired by a mid-tier mining company for a total price of $370 million, or $300 million net of the $70 million cash on hand. During its lifespan, the junior had raised $320 million, giving a total return of 13.5%. It had spent $250 million to acquire, explore, and engineer the project and sell-out to a miner. In analyzing its history, the insiders and other early investors acquired 43% of the company at an average price of $0.46 per share. If they had held onto all of their shares until the takeover occurred, returns on investment would have been over 700%. Investment bankers and brokers would have collected fees in cash and broker warrants on the $300 million worth of private placements and public offerings; corporate finance fees would also have been paid on the $370 million takeover. Assuming industry average rates for these fees, investment bankers and brokers would have made over $35 million and likely closer to $50 million during the company’s life. The investors who bought in for $300 million or 94% of the total money raised and acquired 57% of the shares at an average price of $5.31 did not fare well at all. On average, they lost over 30% of their investment. And pity the poor souls who were part of that $12.80 private placement on a gold deposit whose real in-the -ground value was never worth more than its acquisition price of $3.70 per share.

Since there will never be a takeover at BGM, should discount the $45/oz by ?$ Using $30/oz in the ground ( remember a recent pick by Byron King was at $18/oz...and it was a producer)....is over 9 M OZ once $278,000,000/30 math is done.

So who makes $$ here? Banksters of course, the very early shareholders. Just look at poor ol frozen nutz...already down 36% from his $1 purchase

JMHO