BXJU - I  did look up and see the June 6, 2012 press release that outlines the various reports that are supposed to be underway. Mintec is apparently producing a NI43-101 on the BC vein - not sure if it is resources or not. Mintec is also apparently updating their 2009 Prefeasibility study on  the BL deposit with updated costs, metal prices etc. What I am confused about is that the release also states that they are having Snowden write two addiitonal NI-43-101 technical report on the BL deposit as well, based on the updated Mintec report. To me this makes no sense at all because if they have an updated PFS from Mintec that included all new data and studies, what more can be done?  


The updated Mintec BL report should include new drill data leading to updated resources and updated reserves if a mine plan is in place. There was additional drilling done from 2009 to 2012 on  this zone. In terms of value one would like to think that increased resources and a more advanced satge of developement and reporting - ie Prefeasibility (PFS) over a Preliminary Economic Assessment (PEA) - would give more value. They should also help in making the company a potential takeover target as a higher level of study reduces risk.


The main issue is simply that BGM has yet to deliver any of the reports that will help them out. Unless there is a significant increase in ounces at BL it is still quite small in industry terms at 85,000 ounces (2009 PFS).  None of us know how big Cow Mountain is, as there is no reliable, compliant report yet - the spectrum of opinions ranges from 1Moz to 10Moz. Production at QR is late but on the way, however I don't think there are a lot of ounces at QR as previous operators would not have left easy money just sitting there and it would strike me that there needs to be a lot more  money,work and equipment in order to start mining and hauling started from BL - also retweaking of the mill for a different ore. On top  of that is there a Bankable Feasibility Study (BFS) on any of the QR or BL resources? I haven't seen or heard of one - and usually you will need one to get any kind of financing. There has also been talk of money from custom milling, especially from Dome Mountian - and while their website mentions the possibility it does not mention BGM or the QR mill. In addition the haul from Dome is at least 500km as it is near Smithers. All in all to me it seems that BGM has to much going on for what it can actually handle both in terms of finances and expertise, and I feel they are talking a better game than what is really going on. JMO though