Barkerville Gold Mns Ltd BGMZF

Brent Cook's Investment Conclusion on BGM

[tommyhump]

In last night's Exploration Insights, Brent Cook shared his investment conclusion on BGM. He shared the excerpt with CEO.CA readers. Link here: https://goo.gl/h35fg5

[halcro]

"...BGM is not a stock I intend to buy, at least not until the new and improved resource estimate is released. There are too many moving parts, deposits, royalty and streaming deals to account for, a plan to generate free cash flow mining the remnants of the Bonanza Ledge underground and possibly open pit, and in fact an updated feasibility study in the works. BGM may be a good speculation

[MEiffy]

What is signficient too, that Brent Cook stated in 2013 w a sp of $1.22 (Market Call Minute.) Wait to see the resource. He (Brent Cook) is dubious on this. And he was right to be. Then gold was around $1600. Today, for us share holders, with more than twice the outstanding shares etc, what would be a reasonable sp target? If we can break and hold above the $1200 mark, and we'll soon know

[Cognition777]

I suggest that our SP appreciation lies in the timely progress of the current mgmt to execute their targets for 2016. Currently, the market has priced BGM's Indicated resources (2.8m oz) at $26/oz. As a rough comparison, the market has priced Asanko's gold at $60/oz. There are many differences between the two, (AKG is a year or two ahead of BGM's evolution) but some comparisons are

[hammer161]

Another useless comparison. Firstly, BGM has NO RESERVES - some of you idiots still don't understand this. Asanko has a much larger and higher quality resource and reserve base than BGM. Asanko is a lot further ahead than the year or two you suggest - they have a definitive Feasibility Study and are alread producing based on that. A second definitive Feasibility Study is underway for Phase II.

[Cognition777]

Hey Hammer, Firstly, I never said BGM has any RESERVES, only RESOURCES . Secondly, they will be mining and milling Bonanza by Q3 at 8-11g/t, and when they mine Cow it appears they prefer to go underground for the 11g/t ore. The total ore RESOURCE is 1.3moz. AND this scaled down ore body is within 3.5MT of rock. Here's the comparison I was making...          

[hammer161]

Below is a direct copy from your last post - all I see is the word RESERVE. You can analze the data any way you want but AKG are miles and years away from where BGM is. AKG Reserves = 7.9m oz @ 1.7g/t BGM Reserves = 2.8m oz @ 2.4g/t or more importantly, BGM Reserves = 1.3m oz @ 11.53 g/t (if mgmt selective mines the Cow ore as suggested in several previous communications and slide #16 of current

[Cognition777]

My apologies Hammer, got my mords wixed up ... mean "resources" not "reserves" and switched half way through.  

[Rollercoasterblues]

It seems clear to me....good post and thank you for the clarification......makes me want to buy more!

[pigbruinmcveid]

Well Cog, if you look at all of the TSX/TSXv developers and explorers you'll see that the market is paying roughly $2 to $9 per in situ ounce. Given that CM does not even have a mere scoping study, I'd say BGM s/b valued as an Explorer close to $2 per share.  The full stats are available at   See https://www.goldminerpulse.com/ And if you work out the EV on BGM at