Barkerville Gold Mines Ltd (BGM)

[diggg]

FWIW...Here's a well written and informative post off of SI..Thanks, czechmate.

http://www.siliconinvestor.com/readmsg.aspx?msgid=27637124

I've scratched my head so much on some of these deals that I'm balder then I was before. I don't know what they will need to get real respect.

I travelled to the BGM mine last week and got the full tour. What I saw was very impressive. In speaking with the head geologist I came away with the impression that this project will grow to +5 million oz. The high grade stuff they just announced actually connects two deposits on Cow Mountain. Cow Mountain alone should prove to be +3 million. This project is big.

They are pouring gold. I had the opportunity to witness a pour and hold a newly poured gold brick worth about $500,000. They anticipate starting to mine the Bonanza Ledge by November. This should take their production to more respectable numbers.

I even had a good talk with an excavator operator that has been building the roads and drill pads. He often hits exposed veins when he gets down to bedrock. This is a massive set of deposits.

In my opinion they need to get the mining permit for Bonanza Ledge and they need to get an updated resource calculation out. They are both long overdue. They've been announcing plenty of spectacular drill holes for a long time. These have almost become non events. Until they get the new resource calculation out they will be viewed as a sub 1 million oz deposit and until they get the new mining permit they will be considered a sub 25,000 oz producer.

I expect both of these soon and at that point if they don't get a re-evaluation much higher then I will have zero hair left on my head!