Thursday, May 30, 2013

J Frank back on rails soon? - BGM.v

Everybody's favourite career Venture pooperstar J Frank Callaghan has been spending all his own dough (through a debenture - LoL) and street word has the new and improved 43-101 masterpiece (as opposed to old and dead horrid chitty) hitting the wires any time at all. It has been an ultra long haul since the August 13, 2012 trading halt, and while we wait we can enjoy some of J Frank's irrepressible bullchitisms ...
"Referring to the 43-101 resource estimate, Barkerville president/CEO Frank Callaghan told BIV, “We’re really confident in the numbers. We support the guy that’s done the work and we’re not prepared to throw him under the bus. He’s done a good job.”

The company has been twinning holes and drilling deeper, and has contracted Snowden Mining Industry Consultants to oversee the new 43-101. As a result it should be “very, very comprehensive to a point where a 10-year-old is going to be able to read it and understand it,” Callaghan told BIV.
"Investor enthusiasm aside, some observers were skeptical, even derisive of the resource estimate. “Hilarious” was the Northern Miner’s response.

Barkerville’s June 29 press release also suggested a non-43-101 “total geological potential” for the Island Mountain/Cow Mountain/Barkerville Mountain trend of 405 million to 684 million tons with an average grade between 4.11 g/t and 5.49 g/t for 65 million to 90 million gold ounces. Those numbers, the company stressed, were potential “and it is uncertain if further exploration will result in the delineation of mineral resources.”
Personally I just can't wait to see how much of that aresome "total geological potential" is left over when the BCSC finishes with J Frank's dopey buttock. It ought to be good and if this clownshow manages anything past 1m ounces I'd be very amazed.