Pinnacle Activity Ticker
Barkerville Is it the next Timmins Gold Camp? BGM TSX.V
Does it have potential? Yes. Another Timmins? Brent Cook says NO!! When he says no, I pay attention. I can recall getting sucked in by comments from Pinnacle Professor, James West on Seafield SFF being a bargain at any price under a dollar. He received a tongue lashing on BNN from Cook for making a statement based a drill hole result that was urinating distance from a spectacular historic one already in the records so I hit the sell and I took my losses.I am revisiting that one now awaiting more proof but at a much lower share level. In the case of BGM, I will hold my small position and await further developments. I do think it is a mine, but world class is onother matter. Here is the reason. http://www.stockhouse.com/Bullboards/MessageDetail.aspx?p.=0&m=31242333&...
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Re: Barkerville Is it the next Timmins Gold Camp? ...
I want to note here that the text I posted below was originally written by Otto over at http://incakolanews.blogspot.com/.
Highly recommended reading for anyone interested in LatAm.
Re: Barkerville Is it the next Timmins Gold Camp? ...
I have a feeling you could b e right scottiepimps.. the lack of volume and any major funds stepping in is very strange.. I'd like to see the dust settle on this one.
Re: Barkerville Is it the next Timmins Gold Camp? ...
until it is confirmed exactly how many ounces they have this one will float in disarray. It could prove to be a good buy donw here.
Re: Barkerville Is it the next Timmins Gold Camp? ...
what am I missin with this deal?!?!!!
more great news today and up a percent?
Re: Barkerville Is it the next Timmins Gold Camp? ...
honest mistake or misleading is the question at hand. I think BGM could prove to be a good buy at these levels considering where the stock was a week ago. Even if the revised is half the original amount. there be gold in dem hills.. management is clearly not world class.
Re: Barkerville Is it the next Timmins Gold Camp? ...
Having just listed Barkerville as "undervalued" in a previous post this is a little embarassing, but I recall being a little dubious after reading their press release. It did seem a little extreme. Will be interesting to see what their final filing will be now that they have been challenged, but even at much lower numbers, I agree with Frank that their is still great potential. The question is, has an honest mistake been made in calculating the numbers or was it a definite attempt to mislead?
I also agree with Frank that when a geoplogist of Brent Cook's reputation speaks out one would be wise to listen, on the other hand, I have made very good money on dozens of precious metals stocks that would not have made Brents exacting standards, and I am sure he has also missed some good ones, so I am taking a "wait and see" attitude. I can afford to do that because my original investment is off the table and I hold the remaining free trading shares.
Maybe management was mislead by an outside geologist, but if they are implicated in a deliberate attempt to deceive investors then no matter how good the resources turn out to be, heads should roll as mnagement would be proven untrustworthy and all future claims would be doubted.
thinker70
Re: Barkerville Is it the next Timmins Gold Camp? ...
Well Well. It looks like the BCSC is concerned as to Barkerville's resource calculations and the method used to determine the numbers. www.marketwire.com/press-release/barkerville-clarifies--technical-disclo...
Re: Barkerville Is it the next Timmins Gold Camp? ...
I have made a quick exit will charge it up against my capital gains this year, as better opportunities abound. The bloom has quickly faded on this rose. Of course WE COULD BE WRONG,but better wrong than DEAD WRONG.
Re: Barkerville Is it the next Timmins Gold Camp? ...
Nice post, Frank. I was quite negative on BGM because I thought they had limited potential to add to their resource... so when I saw this latest NR re 10Moz w/ potential for 65-90Moz, I had to eat my words. This definitely stinks of a scam....
Northern Miner interviews Brent Cook on Barkerville (BGM.v) and gets all the moneyline quotes it can handle, including the passing reference to Bre-X. Here are a couple of extracts, make sure you go click through and read the whole thing for the full fun:
“It can’t go from half a million oz. at half the grade to 10 million oz. at twice the grade, you can’t do that, it doesn’t happen in reality,” said geologist Brent Cook of Exploration Insights in a phone interview. Cook said his initial reaction to the news was disbelief.
“It got me to pull out my copy of ‘Gold Today, Gone Tomorrow,’” Cook said of the book about the Bre-X scandal."
"...the company could theoretically be sitting on between 65 million and 90 million oz. gold.
“It’s impossible, period,” was Cook’s reaction to the 90 million oz. figure. Even for the Cow Mountain resource itself, Cook pointed out the challenge of achieving such high numbers.
“This is a narrow, high-grade vein district. From the cross-sections we’ve seen, you have a real hard time connecting the veins. Continuity is a real real problem there,” Cook said."
Re: Barkerville Is it the next Timmins Gold Camp? ...
If it was 2007 BGM would be at 8 bucks right now.. maybe higher.