Irksome wrote:
July 6, 2012 - 2:01pm

From here:

I called BGM this morning around 10am EST - I did not ask who I was speaking with but I was talking with a gentleman who worked at the company.  I guess I should ask, but I always figure that gives them the ability to talk freely without risk being quoted.  Not that I am looking for inside information, but that they will not get quoted in the newspaper and get in trouble.   

What I took away from the call:

1.  Barkerville and Rubicon's management have become very close due to both firms involvement with Peter George.  It was stated that Rubicon feels that the first resource estimate Peter did based upon the grades they are pulling out of the ground now was more accurate than the second.  Based upon this there is a cap-grade Peter is applying to this 43-101 to avoid a Rubicon.

2.  Peter ran the numbers twice, because he was a bit surprised himself the first time.  I guess it takes a day to run them through the computer and enter the calculations.  Geoex has a fair number of employees but I understood it that Peter ran the numbers himself.  Peter gave managment the number 10.6 milion and told them they need to call their attorney.  It sounded like management wanted to wait for the 43-101 report to issue this estimate as they were worried about skepticism.  (basically what has happened)  The attorneys told them the information is material, release the news.  So they did so.  

3.  Peter George has worked on this report for 2 years, and made countless sight visits.  And is fully prepared to defend the 43-101.  Pretty sure "fully prepared" is a quote.  Peter fully believes the 65-90 million oz in the whole deposit is a true and accurate statement.  

4.   Management invited Brent Cook to their site 3 times this year.  He never came, feel like they are being wrongfully bashed but that the 43-101 report will tell the story.  

5.  There were 7 past working mines on the property that were all shut down when gold was in the mid $300s per ounce.  As just referance to how large the resource is.

6.  Whoever said Newmont made 2 site visits before is correct.  I guess Newmont had past interest in the property and has been very helpful to managment in understanding the project.

7.  Fax machine was full of people exercising warrants and that they do not intend on going back to the market for financing.  23 million was the number of warrants I was told was in existance 5 million at the $.85 and the rest at I think $1.10.  

8.  Norman Anderson spent a full week with Peter George to understand his geological interpretation and model for the project.  Sounded like he was confortable with it.  

I felt a lot better after the call as the story line made sense to me as to why events have unfolded the way they have.  I am confortable holding my shares, I think we start to head north by next week.