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2/7/13

Ian Gordon on Barkerville (BGM.v) wins quote of the day by a nautical mile

The venue, this Gold Report article (ty reader M for the headsup) and here's what some guy named Ian Gordon says about Barkerville Gold (BGM.v):

Oh how we laughed. So let's just check the logic behind Gordon's long call on BGM.v (which still trades on the US OTC, by the way) once again:
1) He has shares in the stock
2) The original 43-101 that was laughed out the room by the BCSC won't in fact be materially wrong
3) Because he doesn't believe it was fraudulent and he's a geolo.....oh wait, he's not.
4) And the numbers compiled in the report aren't wrong either.
5) Because he doesn't think so and he's a geolo...oh, we've done that already.
6) Oh, did we mention the bag that he (and undoubtedly his clients too) is holding, full of unloved and untradeable BGM shares?

However, when you ask real live geologists with no axe to grind what they think of the report they say things like "In our opinion, the 43-101 compliant Technical Report is crap" or things like "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" or how about "The seven red flags I have presented here are hopefully enough to provide you a taste of my initial review of Barkerville’s resource". But hey, what can geologists possibly know of rocks that someone who uses something called Longwave Theory doesn't?