Gold Summary for Sept. 17, 2019
2019-09-17 19:22 ET - Market Summary
by Stockwatch Business Reporter
2019-09-17 19:22 ET - Market Summary
by Stockwatch Business Reporter
Chris Lodder's Barkerville Gold Mines Ltd. (BGM) and its nearby Cariboo project. Barkerville gained 2.5 cents to 42.5 cents on 1.23 million shares today on word it has filed its preliminary economic assessment of the project, which proposes a $306-million mine that would average 185,000 ounces of gold over an 11-year run, enough to support a discounted net present value of $402-million.
Mr. Lodder, Barkerville's president and CEO, who never offered a thought regarding Surge and its nearby moose pasture, says that the dream sheet and its 4,000-tonne-per-day plan is merely the start. Naturally, drilling continues to further expand the Cariboo resource, which currently stands at 12.53 million tonnes indicated at 5.6 grams of gold per tonne and 11.85 million tonnes inferred at five grams per tonne, a total of nearly 4.2 million ounces of gold. (Only half that resource was included in Barkerville's study, so along with the continuing drilling, Barkerville has ample opportunity to expand its Cariboo plan.)
Mr. Lodder pulls in $425,000 in salary as president and CEO of Barkerville. At last report, Mr. Fernback was earning $72,000 per year as president and CEO of area-play Surge.