Some people have pointed out that BGm is low on cash.  This is obviously a valid concern.  Mining, however, at the small QR deposit began around October 15th or so.  I was told  in my last conversation w/IR that the first gold pour from this gold production is expected in the second half of November and that revenue will be realized within days after the pour.  After extracting the 8,000 ounces at QR the equipment will then be moved to Bonanza Ledge where mining will commence there.  A.J. Sims has also agreed to defer receiving compensation until the gold is sold and revenue is realized.

Bonanza Ledge will then be high graded for the first 2 years.  This will yield an average grade during this period of 13-14 grams per ton.  I believe this will yield between 25-30,000 ounces.  The cash cost on this should be low.  They will not commit to an exact number though.



While BGM may be low on cash at the moment, it appears that they will have a boatload of it coming in within the next 3 - 6 months.  Furthermore, since Barkerville Gold Mines is a producing gold miner about to generate cash flow, the value of their ounces should be compared to that of other producing miners.  Not to that of exploration companies.

GLTA Longs