Bayhorse Silver Inc V.BHS

Interesting tidbit on Ocean from Blue Lagoon this week

[Henrich428]

From the latest NR:

"Once processed and converted, the concentrate produced from processing the Dome mineralized material will be sold to Ocean Partners UK Limited, a leading European based commodities trading company with offices in six countries around the world (see news release June 7, 2021). Payment to both Nicola Mining and the Company will be based on every 50 tonnes of concentrate material received by Ocean Partners."

https://ceo.ca/@accesswire/blue-lagoons-toll-mill-partner-starts-processing-dome

Very interesting to hear that payment comes in for every 50 tonnes of concentrate received. It would not surprise me if our own agreement with Ocean was similar to this one. 

By the way, even though Blue Lagoon were adamant that they were going to explore by funding everything with production (no dilution), they just today had to get a $5.5 million financing from Quinton Hennigh's Crescat. Presumably this will be the last bit of dilution for them.

https://ceo.ca/@accesswire/blue-lagoon-announces-55-million-financing-lead-by

If Bayhorse happens to need one more round of dilution also, I hope that people will be mature enough to see the parallel. If they do get away with having raised only one $1.7 million PP, that will have been quite a remarkable accomplishment on Graeme's part.

[sage4050]

First they have enough for months now they don't have enough.  When can we ever count on anything.

[Henrich428]

I can only imagine dilution if BHS got bonanza results and wanted to press them home quickly. BLLG is diluting because they want to accelerate their drilling (they just added a 2nd drill).

[hartadd]

I can't help mentioning Henrich that BLLG's share count at present is 72.25 million as opposed to BHS's share count of 178.61 million; so the dilution is more palatable for BLLG's shareholders than further dilution for BHS shareholders would be I think.

[Henrich428]

BLLG has only been a company for about 2 years. Rana got it for 13 million shares at $2 a share. It hasn't been through a long bear market like BHS so naturally the count is lower.

[hartadd]

Hi Henrich, Whilst on the subject of BHS's share count do you consider it to be a reasonable number bearing in mind BHS's current position in their stage of development, along with their proven and potential assets? Again, in a recent post you described Brandywine, along with Bayhorse silver mine, as being a world class asset. Whilst the latter, Bayhorse silver mine, has been demonstrated

[Henrich428]

I could have hedged those statements round with qualifying words like "potential," but I was trying to fit into the character-limit to avoid annoying people with a "Read more." Although even so, I don't really see a problem personally in calling them both world-class assets. I'm simply a person on a message board, not somebody who works for the company, so unlike

[hartadd]

Henrich, Yes I have seen a statement a couple of times that Brandywine may be a better asset than the Bayhorse silver mine. We will see- I wonder if any more work will be done on Brandywine this year? I doubt it as we wait for news on Bayhorse silver mine revenue from Ocean. Do you know if it is the intention to fund any more work on Brandywine from revenue received from sales of the silver

[Henrich428]

Sorry, did not answer the part about the share count. If you want an example of a parallel company, look at Galleon Gold--500 million shares, far more than that when fully diluted, and nowhere close to production yet. Unless somebody can show how dilution has been abused or money considerably squandered then the share count of Bayhorse is by definition reasonable. The dilution was simply

[ardbegoil]

Heinrich...now that you mentioned Galleon  you must be following it and I wonder if you could post something or anything over there that would be helpfull....I have shares in it but not on purpose....Thanks in advance....best to all

[Henrich428]

Sorry ard, wish I could but it's not a stock that I'm particularly well-researched in. Took one look at the share count and did a runner, had no reason to buy it over BLLG. 

[sage4050]

Very true Hart no matter what the circumstances.  If G comes ot with another loan request we should also see some proof that that Ocean contract is legit or bonanza results that would be unbelieveable.  Even for the super positive here there simply has to be some point where G starts production and revenue.  I guess a consolidation is out of the question---right?  With G and