Roebear:I did print out some of the conversation this morning when I first went to the link. The printout I have is for session starting at 9:47 (I assume this is PST) and ends at 10:45.
Some of the comments, as I see them (in order to make it easier for me to copy, I will use military time instead of AM. Also, first thing after time is the initial of the person talking. I don't want to spell out all the names all the time:
0947 *** Now talking in #bcmd
p - the color of the rock is excellent
0948 a - welcom back, all ears obviously great news judging by the action of the stock today
(Note: please forgive typing errors)
p - we were showed another area they were working
a - color p?
p - and the ore color is excellent. I don't mean visual good...but
0949 a - as I understand it color usually refers to visible gold?
p - sorry - get myself in triuble
a - shesh yall are gonna be pounded by questions
p - anyway the color is grownish
0950 r - why, is brown good?
a - is ok - just trying to understand - very grateful to you and Charger for efforts :)
r - vs yellow
p - bot CS 3/4
m - 1x 1 1/16
r - or is this some geologic thing
p - guess its got iron in it and before they have had bood results - yea -but - one thing I learned was that any ugly rock could hjave gold in it - yea - per ton - so you never know -
0952 a - p, was the off-whits thing refered to as quartz?
a - the photos I have are in an off white ore
p - I really could see what a hanging was was
a - on the page - cool
p - and could see veins
a - hehehehehe
0953 p - yea - could point - good - that ore on pillar 4
a - p that's great!
p was neat - milk white - The mine - and mine staff - were great
0954 a - how deep did you go?
p - very competent
j - what about security?
r - did they show you the buckets? Are there pictures of the famous buckets? If not, I want you to march right back down there
0955 p - I was at track level - rode a train into mine - hahahahaha
a - LOL
p - saw the buckets
a - roflmao
p - went to the mill - met Vern
a - 311
p - who runs it
a - oops, wrong window
0956 a - p, do you know if any of the mine staff have bought or have been given stocks as part of their compensation? - saw tje warped table . . . . . what a joke - given stocks as part of their compensation?
p - don't know a
0957 p - yes red
a - thanks
*DayTrader* * TYX.X 59.96
m - p, why is warped table a joke?
p - I held a huge chunk of dore bullion
r - did it look different than the brown ugly iron rich rocks they had been showing off?
f - buys xlnx @ 35 15/16
m - 1 1/32 x 1 7/16 - 90*70
p - just missed a pour' - darn it
0958 a - how big did you say those were RB
p - but I just wanted to crawl around the mine and make sure this wasnt a bs thing
m - p, did they mention whether or not whey have buyers for their gold?
p - far from it.....you guys have yourself a mine - yea m
0959 r - a, Lionell said 40 oz amd 50 oz respectively
h - P HJ JUST IN CAN YOU BRING ME UP TO SPEED...SHORT VERSIon ... I'm sure you're sick of repeating
r - (if I recall correctly) - anyone have a log of BCMD today?
m - hj: I can't dee a log to you if you like
a - cool thanks was curiuous
1000 r - I mean #bcmd
p - the main thing
r - Good M does
p - I want to try and get accross here is "the deal"
a - thanks
l - 201.4k vol
p - is much much much diferenct than people thought - very good for BCMD
h - how so?
p - because, and I repeat - the percentages we have been hearing are not ownership - but %interests in the production - so at different stages Sterling if it wants to stay in the game must fund a percentage of ongoing - development costs - very different that we all thought
1004 h - p, does news appear to be on the horizion to get all this out and clear the picture for the masses?
1005 p - very different - yes - that why I drove all night - to make sure you guys had first lick - yes - I think most of the people - that sold
a - * * wishes he had of held on to SUNW a little longer :(
p - thought what bcmd had sold the farm - they haven't - very good - deal -
m - 1x 1 1/16
r - Well, Sterling gets 30% of all the gold they find, yes?
1006 m - 55x70
b - all of us appreciate your efforts pop :)
a - so, p, if i understand, Sterling must fund development costs but only share in the results of mining and not in the mine(s) themselves?
p - just wanted people to a least get a small understanding of that
m - 212,000 vol
t - buys more IMCL at 8 3/8
x - three cheers for p
f - a, you got it :-)
t - everyone back, i see.
r - That was what my original assumption anyways
a - fj - thanmks
p - in other words
1007 h - p the llast questions I have is "did bcmd have any comment on why the whole world is selling gold and the big boys such as echo bay and berick are dying and what makes them think they are strong enough to be in that class
a - Sterling would only get share of gold from specific project thedy funded, not from the entire holdings
p - yes a
(ME - I GOING TO TRY AND SKIP SOME OF THE UNIMPORTANT STUFF, IE, DAYTRADER TRADES NOT BCMD)
p - yes a - very important - those
1008 r - You want BCMD to e a Philosopher hj? Commenting on the world markets?
p - idiots (oh oh) that were on SI did not understand deal
a - yes, Red and I want them to wash my car too
h - that wasn't my point p
s - haha
r - lol
1009 r - do they wax too?
a - haha
p - this company will be a world class mine - the land holdings this company have is HUGE - we drove for miles and were still on the one mine site
a - any word on diamoniferous holding or diamond JV?
1010 p - they have 9 bloody mines ... it is f------ huge
p - close actech - these prople are top notch
1011 x - p excited. getting me excited too
r - Im curious why you find that differennt than 30% ownership ... yes, Sterling does not own 30% of the company, or they would be handed over 30% of BCMD stock. However, Sterling does receive 30% of the gold- though what I didn't consider was that Sterling only gets 30% of the gold where they put their money at
p - met most of the day to day supervisors - ok let me try and explain
1012 r - So, if Sterling doesnt throw their money at Ruby Mine. and
BCMD decides to mine at Ruby, Sterling gets none of the money found there
p - yes
r - (none of the gold that is)
e - R...Example: if Sterling helps to develope TWO mines.... AFTER they pay in full
p - well in awy - always ... listen
1013 e - then thgewy get 30% ..... They still dont get anything on the other SEVEN mines.
a - p, thanks :)
r - However, BCMD didn't have money before this JV deal (essentially) ... so why would they jet off and work on a mine that Sterling doesn't support?
x - they might be able to start other mining after production ups in pillar 4
p - if after the 9 million is specnt Sterling dosent want any more action they can sit back
a - r, hopefully with this money they can produce gold and will have money for further development :)
1014 e - As long as they fulfill their written obligation to Sterling ,,, they can do anything they want
r - No E.., the way I understand it is that if Sterings money goes into Ruby mine, Sterling will get 30% of the gold from that area which they threw money at
a - also ... Sterling funds the expenses and gets 30% , but BCMD gets 70%, with no (or limited) expenses.
e - r, thats what I said
p - and just get the 30% of what mines were brought up to production to that point
1015 r - oh, yes .... I missed a line! sorry
p - after that they mus5 spend more money to stay in the game - if - they want to put in the full
1016 t - says says with the room functioning so well today, i.e., back to the normal without intrusive conversations... we deserve a humdinger
p - 16 mil then what ever thAT MONEY BUYS they get 49%... but then are responsible for putting in more - moneu
1017 p - what I trying to say is this relaionship is ongoing
r - Basically all I see now is that Serling gets 30% of the revenues of the current mining operations... which is what I thought before this tour ... Only after BCMD can get some of that 70% profits can BCMD work on other mines without Sterling's support.
x - sounds like an excellent deal to me. wonder why bcmd did not distinguish that in their news release
p - and no time can sterling just sit back unless they want out
a - this should decrease the cost per oz. on bcmd's side considerably too
1018 m - This is completely different from what I inferred from the press reless :)
w - me too
p - me too
x - most people probably thought like us, apparently except r, he was on the ball
1019 a - p, theres been alot of speculation as to when we will get some news on production #'s, any guesses
x - a news release to clear the confusion sould be huge
q - it almost cost BCMD nothing per oz. until the 9 mil is spent.
m - Yes, I think L may not be aware that the press release was completely misunderstood based on the bay it was written.
p - but if Sterling stys with this ... they are going to be dumping money into this company for a long time
e - q, you hit the nail on the head
1020 p - I am not sure even Lionel understood the deal untill yesterday
j - and the news is p
a - LOL
a - p, I thought the limit for Sterling was something like 16.5 mil?
1021 p - just a guess - no
1022 p - what ever perentage they go in for .. will be the percentage of funds they will have to contribute - for ongoing project
x - you know what you should do p. go post your information from your trip on some message board and then we could direct newcomers to that. that way you don't have to keep re-explaining yourself. then they could comme back into here for questions. just a thought
p - this is a very good deal
1023 a - oh I see - very good - but hard to understand
p - I am jsut the messanger here... will get charger or someone who is a better writer
(WILL REALLY TRY TO SKIP UNIMPORTANT MATTER)
1025 p (= popq) - I want to tell you that the property holdings of this company are HUGE - we talked
1026 a - property summary on web page: mindspring.com
md.htm
1027 p - they have plans for maybe building a new mill - at some point
1028 p - adding more properties, etc
1029 p - this is no fly by night outfit - nice offices - real people - great people working for and with them - the miners are youg <sic>
1030 m - Perhaps our stock price is undervalued at the currrent time based on misunderstanding of the JV deal?
r - 30% ownership implies JV would HAVE to be given 30% of the stock (as stock represents ownership in any company). Since that didn't happen, I didn't infer ownership from Sterling.
1031 r - But I wrongly ingered 30% of all the gold BCMD has
p - would cost millions and millions
1032 r - vs only 30% of what Sterling decides to invest it (which mines or pillars they wish to persue)
m - I think *everyone* inferred 30% of all gold
a - so to confirm, there will be a news release to this effect or no?
1035 m - So when the news release referred to "joint-venture agreement which covers its current gold mining properties", which properties exactly are they referrred to?
p - That a goodvery good management team is in place - well that is misleading - miss leadong Merik - because were ever the money runs out
1037 r = RedBaron - OK, p. wjat about this though... - they use this for all BCMD operations - what does Sterling get for buying all this new equipment? - BCMD can use this drill or shaker
table for any mine ... how does that work into the equation?
1039 p - they wouldn't know that they had bought a shaker tagle per say.
r - I see
f - RB, the money is now in the hands of bcmd, sterling doesn't own any equipment that bcmd holds, buys etc.
1040 p - me say this there is a board - of three people - 1 from Sterling and 2 from bcmd
1041 p - Jim - thought - that they would have somebody on site maybe - ... also - it turns out these are very rich people - very very deep pockets
1042 r - So BCMD can't run out there and spend $9,000,000 on new equipment and then say, well ... Sterling, you get squat, technically we didn't extract any gold from mines with your cash inflow, we just bought new equipment
1043 r - I see that 3 person thing makes sense
p - very good trusting relationship between Sterling and BCMD
m - 3 person board typical for jv
m - just posted that address on SI
1044 p - the p[eople own huge properties in New York City
E - 3 people ... Sterling ,,, BCMD CEO ... and Board of Director (share holders)
That's as far as I got .....
B.G.
p.s. When I started copying this, the previous 4 or 5 summaries were NOT on the board, well, it's done now so here it is, for whatever it's worth. Good Night all |
