Nobody’s going to jail and nobody’s getting rich, at least yet.
It’s been a busy morning but I’ve been able to talk to a few credible people about the Barkerville 43-101 technical report filed yesterday evening. None of my contacts had admittedly made their way through the entire 2800+ page document yet.
Some preliminary remarks:
“There are some concerns about gravity – density – that could change the fundamentals dramatically to the down side,” I heard.
“If they were serious about selling this asset, they would have had SRK or another well known firm do the report… I think this thing’s just gonna get smaller and smaller.” Said one intelligent analyst.
“There may be some retail buying but no valid institutional investor will poke a stick at this now. Too many holes,” said another institutional rep I trust.
See the Stockhouse BGM Bullboard for the chatter.
Here’s @Mining‘s post.
From Otto Rock:
“Barkerville did manage to file its 43-101 last night. I’ve downloaded mine already and the first thing to note is the drop in resource estimate, as we’re now 4.25m oz Au indicated and 3.25m oz Au inferred, using the capped table (which BCSC wanted BGM to use). However, we’re talking about a 2,877 (!) page document here and it’s going to be a while before even experts find any devils in details, let alone a grunt like me. However, it’s notable that the resport itself is only 50 pages or so long and the appendices go on forever here.” Source
— Keir Reynolds (@StockPromoter) August 15, 2012
Certainly Callaghan’s going to keep on truckin. I wish him well.
CEO.CA offers opinions, not advice. Always talk to a professional investment advisor before you make any investment decision.