Barkerville Gold Mines Ltd. - BGM.v

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Stoxxman
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Barkerville Gold Mines Ltd. - BGM.v

http://pennystockjournal.blogspot.ca/2012/06/barkerville-gold-mines-ltd-bgmv.html

ppt-cover-new.jpg Barkerville Gold Mines Ltd. - BGM.v is focused on the Cariboo Goldfields, British Columbia, a destination for the famous Cariboo Gold Rush in the 1860s. images345.jpg

imagesCAGWCPIF.jpgfrontpage1.jpg imagesCAMXG5OM.jpg

t?s=bgm.v&lang=en-CA&region=CA&width=300

Edited by admin on 11/08/2014 - 06:19
Irksome
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I grabbed me some of this one...

BGMZF, bought June 1 @ $0.4425, 20,000 shares.  After commission ($51.25, ouch!!!) I'm up 63%, wow!

Don't know if they can keep it going, but I liked their story and they sure rewarded me.

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Long history here ...

The deal was called International Wayside IWA.v a couple decades ago.

Our man main appeared on local TV after a particularly good hole and proclaimed there would be a mine on Cow mountain one day.  Sure sure we all said.

Well, its taken a while, and only God alone knows how much dilution exactly, but here we are with permits in hand.

One hell of a good story in that the Barkerville hard rock "motherload" has been speculated about for generations.  The source of all that placer gold has never been found ... or has it? 

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Billy Barker

The yarn is that Billy had sunk his shaft to 30 feet and still hadn't hit bedrock. He had a dream about playing cards and instead of looking elsewhere kept digging to 52 feet, where bedrock, and chitloads of gold nuggets were found.
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BGM Halted ...

Wonder what Callahan has up his sleeve this time.

Stoxxman
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BGM.v releases 43-101 = 10.6Mozs

"BARKERVILLE ANNOUNCES A NI 43-101 COMPLIANT INDICATED RESOURCE OF 10,626,100 OZ GOLD

Barkerville Gold Mines Ltd. has released an NI 43-101-compliant indicated resource estimate for the gold quartz open-pit model on Cow Mountain, as well as an NI 43-101-compliant estimation of the geological potential of the 6.4-kilometre Island Mountain, Cow Mountain and Barkerville Mountain trend. This trend is the central portion (where the Company has focused its exploration activities) of a larger 67 km trend on the Company's 1,118 sq. km property.

Geoex Limited ("Geoex") was retained to complete an independent estimate of the mineral resources and geological potential of Barkerville's property (the "Property") by management of the Company.

The indicated resources, between the elevations 3,550 feet and 4,550 feet above sea level (town elevation 4,000 feet), estimated by Geoex for the Gold Quartz open pit model on Cow Mountain are 69,039,000 tons with an average grade of 0.154 ounces gold per ton (5.28 grams/T) and 10,626,100 ounces of contained gold as summarised in the following table. Geoex is of the opinion that this resource has a reasonable prospect of economic extraction."

Paper is going higher. Looks like $ 1.16 in the pre-open. (from $ .80)

Stoxxman
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$ 1.30 pre-open

surprise That basterd Callahan. LoL

Stoxxman
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Paper likely going higher

Pfffft. Even Callaghan can't stop it this time.

"Mr. Callaghan’s yearly fees are currently $240,000. Upon termination in a manner listed in (a) to (c) in

the paragraph above, Mr. Callaghan would be entitled to receive approximately $480,000 from the

Company. The value of Mr. Callaghan’s “in-the-money” stock options as of February 28, 2011 (at a

closing market price of $1.34) was $1,344,928."

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Keep it going, I don't care how...

20,000 shares, and absolutely loving it.

On a more serious note, I keep considering locking in my profits, but not sure if we're topped yet.  Any idea how this announcement might translate into share price?

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10.8M ozs = LoL

That is a significant gob of metal and it instantly makes this deal MUCH more attractive, particularly since operating permits are in place.  I don't know the O/S off the top of my head, but suppose $20 in the ground and that times O/S gives us a clue what we're dealing with. I suspect paper might be fairly valued MUCH higher.

It just goes to show even career Venture muttdogs get lucky now and then.

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Millions of Shares changing hands tomorrow ...

One thing dead certain, this here paper will churn like no tomorrow, err tomorrow.

To our friend @ $ .44 this is what its all about citizen.

Irksome
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So... Now what?

I like owning.  But should I be looking to cash out and move on?  Or is this little miner going to follow the rest of the gold miner rally (if such a thing actually occurs)?

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"So now what"?

You have 3 bagger already and are wondering if you should bail at first opportunity?

That is a very personal decision that depends on all kinds of factors.  As a broker I never directly told anyone WHEN to sell. (indirectly lots of times LoL)

If it were me in the saddle I'd let er ride and look to sell into the big volume, which we haven't even seen yet by the way. A body doing the numbers here would likely get some REALLY stupid big ones.

Enjoy the ride friend.

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The dopey numbers ...

Hate doing this but here we go anyway.

Lets say 120 million out fully diluted.  If we assume the gold is worth $ 20 in the ground thats  200m and the shares are instantly "worth" $ 1.70. (Or $ 1.70 higher than before the announcement, which gives us $ 2.20)

BUT we got permits in place for production, and $ 20 is low in that case. Soooooooo .....

kjm
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I'm cautious of violating

I'm cautious of violating copyright laws so I'm reluctant to elaborate fully, but I just noticed that Quinton Hennigh, from 'Exploration Insights', has uncovered no less than 7 red flags regarding Barkerville's resource. The unique thing about this particular service is that they (Cook and Hennigh) answer questions from subscribers as issues arise.

This is a member post from Smartinvestment.ca

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Thank you...

for your comments.

I decided to take my original $ out, and I'm riding the bull with the rest.  $1.50 hit for my original plus a small profit, and I'm holding on to see where the rest goes.

It truly is a beautiful morning.

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Frank no choir Boy

Its NEVER a bad idea to take profit.

Frank has a long, multi-generational history and I know just as many people with knives to grind as would give the man the time of day. There is controversy about virtually everything the man does.  Simple fact is even career promoters find gold every blue freakin moon.

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Red Flags for Widows and Orphans

The naysayers are coming out but thus far it seems none of the brainiacs with supposed rock knowing things has read the 43-101.

This here deal is speculation in every sense of the word.  The dogs are ready to attack Frank full on this time for sure.

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Sure is fun...

to read the comments here:

http://www.stockhouse.com/Bullboards/SymbolList.aspx?s=BGM&t=LIST

VERY active day today while the US markets were closed.  I am kinda expecting a bounce back up to $1.50 range tomorrow, hope I'm right.  Of course, I really hope to see it climb much higher over the next few weeks!

Meeting with Newmont next week, a buyout would end all the controversy.

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Read this guys comment

http://www.stockhouse.com/Bullboards/MessageDetail.aspx?p=0&m=31243707&l=0&r=0&s=BGM&t=LIST

on December 12, 2011, the company reported an intercept of 62.3 meters at 14.2 grams per tonne gold in hole CM11-102. Within this are two intervals (veins), 0.9 meters at 858.1 grams per tonne gold and 0.7 meters at 84.6 grams per tonne gold. I calculate these smaller intercepts contribute 95% of the gold to the longer intercept, yet represent only 2.5% of its length. Although these high grade intercepts are intriguing, one look at the cross section displaying this hole indicates they do not extend to other nearby holes. Therefore, it is likely these represent small volumes of material, certainly not the large high grade zone implied by the longer reported intercept.

I am surprised this stock hasn't been halted.

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MANY critics about ...

Naturally there are plenty of discouraging words and coming from everywhere.

Would an experienced mutt like Callahan attempt to run something COMPLETELY bogus past the BCSC?  This dope thinking not, butt on the other hand if a body were to pick a career turd to give er a try, Callahan is the man.

43-101s are not the be all and end all.  Fire River Gold (FAU.v) had a custom job done that allowed it to raise multi-millions, and virtually any PoS can become "qualified" to sign off on the forking things.

Useless as bloody hell BCSC is PROBABLY looking into this un right now. A halt would not surprise.  The facts are too good to be true, and that usually means they ain't.

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