Barkerville Gold Mns Ltd BGMZF

Action. Jackson

[halcro]

Here it is, 21 days into 2016, and it seems that the new norm is 23 cents, down three cents (11.5 cents) from December 31, 2015's 26 cents.

Last retail-subscribed private placement was six-million-plus flow-throughs at 32 cents on June 9, 2015 (insiders picked up almost a third of the paper). This PP was undersubscribed by almost 1/3.

One prior to that was 6.88 million shares at 50 cents starting around Feb., 2014. This was to be 10 million shares, so under-subscription of almost 1/3 again.

IMO, a disaster for the retail investors who bought at 50 cents, with just 110 million shares out.

Paper for debt at 50 cents also way underwater.

[halcro]

Correction

[pigbruinmcveid]

Disaster is right. It was much better for the average joe under the previous management, you know the guy who raised upwards of $130M.  At least when he ran things, there was usually a price bump after financings so a little guy had a chance. Now it is just sharks eating chum...  Well, what do you expect when little guys try swimming in the same pool as a drop off from the Forbes

[halcro]

Third-quarter financials for the three months ended November 30, 2015, are out. Revenue of zero, and net loss for the three months was $7.4 million.

[pigbruinmcveid]

Looks like about $12M in current assets including the Dec PP and about $12.2M in current and long term debt.  Gotta love the $8M bump in accummulated deficient. Thats the way to do... Looks like another round of financing is coming given the monthly burn rate required to retain the ultra talented team managing BGM.  LOL. Will the next PP be at 16 cents? Higher? Or lowers?  I

[halcro]

A quick estimate of expenses for the final quarter of the February 28, 2016, year suggests, based upon another three-month period of no mining and milling, that cash-cost expenses might be as follows: Mine Operating Expenses: : Consulting fees $6,000 : Employee salaries and benefits 200,000 : Office and administration80,000 : Repairs and maintenance 40,000 : Reclamation20,000 : Travel 2,000