Ryan,
The 20 so-called "facts" of Goldfinger, (a.k.a. Mr Miller?), are mostly lies or distortions that have barely a kernal of truth. The truthful "facts", such as #'s 1, 5, 6, 10, 11, 12, 13, 14 ,and 17 are IMO totally irrelevant. I haven't responded to Goldfinger/Miller before now as his posts on this thread and Yahoo have been so twisted and lengthy that it simply takes too long to refute his distortions and I have better things to do than than answer this manic-depressive who obviously lost his Lithium Rx <g>. Now that his tripe has surfaced on this thread, I'll waste an hour or so to refute him.
fact #2: bcmd did not start any removal of ore from pillar 4 until after december 15, 1997 : do you know this?
It took 3 weeks to cut a 200' raise from the Cassidy level to the pillar 4 area, then a 60' angled raise to pillar 4. In the meantime, the parallel ore shoot at the 2500 level and the find at the 2428 level promised to yield more oz per ton than the pillar 4, so attention was diverted to these 2 new (virgin) areas. Miller has been told time and time again that BCMD is a development company as their name states--not a production company at this juncture--as much as we would all like to see production. The JV partner is far more interested in development than in production--that's obviously why BCMD gets to keep all production until the whole 9MM is received. BCMD has to balance the JV's desire for exploration and development vs shareholders desire for production.
fact #3: bcmd's ruby mill was shut down for several days to put on a new roof so that it could mill ore.
Total distortion. To me, this "fact" implies that there is an "old" roof which is replaced with a "new" roof. In fact, there was NO roof at all, installing a roof enables BCMD to mill in inclimate weather during the winter. Building this roof did not shut down the mill at all--snow-fall might have. Ore could still be stockpiled at the mill to run during the nonproductive time while the raise to pillar 4 was completed--or if this occured while the raise was being driven--there was no ore to mill anyway.
fact #4: bcmd stopped milling operations for a period of time in
decemeber because one of the panels of their ore grater had a life
expectancy of a few days: still needs replacement
The "period of time" was 4 hours--the panel was repaired and milling resumed at noon on that Monday. "life expectancy of a few days" "Few" is actually 60 days and is routine scheduled maintinance. 60 days of mill time is enough to mill 6000 tons of ore. "still needs replacement"--yes, and it will need replacement for another 45 days or until it is worn out. When the mill lining is replaced with new lining and used one day, I guess you could still say it needs replacement even though that would be a year from now when that lining wears out. Three distortions in one "fact".
fact #5: the shaker table at ruby mill is warped: still needs
replacement
Miller, you are still flogging this dead horse! This distortion has been addressed several times before, and the tables are in the process of being replaced. No gold is lost--the fines are collected in 55 gal drums and processed elsewhere at the cost of a few bucks per ounce. Not as efficient as would be with new tables--but really nit-picking as all of your "facts" are.
fact #7: bcmd claimed to have started mining in august. no revenues
posted on sec reports for quarter ending sept 30th. none.
I've addressed this before--there are no revenues until recovered gold is sold for cash. Just because there are no stated revenues does not mean that no gold was mined--simply that none was sold. Neither you nor I know how much gold was carried over into the next quarter--but I do doubt that it was very much. Use of "claimed" instead of "said" is meant to imply that it isn't true--another subtle distortion.
fact #8: bcmd does NOT. i repeat DOES NOT have 9 million dollars from an JV. they have only $500,000 from a JV who happens to also be ariel holdings. they are NOT bound to pay 9 million dollars. get that THROUGH your little heads
(ariel holdings probably became the jv in order to pump the stock price up on the news, then sell holdings down to $7/8. very wise that ariel holdings: this part is congecture
The first part is true--but so what? If I were that JV, and contracted to put up $9MM over 30 months and BCMD got to keep all production during that time--I'd make damn sure I had an out if they simply produced like hell and did no development/exploration!! Get serious!!
Your "congeture" (sic) is just stupid. First of all, Ariel Holdings' shares are less than 1/2 of the total shares the JV actually owns--they own at least 20% of CURRENT outstanding shares--not including any of their warrants. The day the JV was announced the stock spiked to 2 1/8 for 15 minutes but actually closed up only 1/8 for the day. The next day it closed lower than it was the day before the announcement. If your conjecture was valid, I wouldn't say Ariel was wise--I'd say they were pretty dumb--since they cant sell ANY of their stock until the SEC approves the registration statement some 3 months after agreeing to the JV.
fact #9: bcmd has not mined a single piece of ore after pillar one until sometime into december
Pillar 1 was October 14th--so you say absolutely no mining done for at least 6 weeks--a total lie. You say the shaker tables are warped and made this "disclosure" in post # 1742 on Dec 1st along with a flurry of other negative posts on Dec 1 and 2--such as no mining done since 14 Oct, on verge of bankrupcy, will be delisted. Cant reconcile no mining with losing gold due to warped tables--cant have it both ways. Also misspelled "no one" as "noone" several times as you still do in Yahoo-- which Martin also caught and gives Goldfinger away as Miller. Miller was completely discredited when he went off the deep end with his "Nostradamus" (sp?) type posts--and left only to be resurrected in Yahoo. What a sicko!!
fact #15: recent SEC filling is about to introduce about 30 million
shares into the open market able to be traded by all of the public
This is true, but is fear-mongering as the vast majority of these pp shares are held in large amounts by entities that will not sell in any way to hurt share price. Some of the earlier pp were for relatively small amounts and maybe these will sell, but dont expect any effect on BCMD price as these can be easily absorbed.
fact #16: the average price of these restricted shares now NON-restricted shares were purchased at .25
Just another untrue "fact" but has no pertinence. Two errors in this "fact": The average price was under $0.10--not $0.25---and the shares are still restricted and will be so until SEC approval sometime in February at the earliest. I own 1MM of these shares both personally and in a trust, and I sure as hell know the terms and prices. This is obviously why I'm taking the considerable time and effort to debunk you--too many people are reading and believing your lies and distortions and that might hurt the stock's price, so reluctantly I am responding to Goldfinger's (Millers?) verbal diarrhea.
fact #18: bcmd PAID cambridge to write an article about their company and PAID for the rights to send it out to shareholder
Another lie--BCMD did not pay Cambridge to write that article--only for the rights to desiminate it.
fact #19: your IR guy used to work for TTRIF then left suddenly for
BCMD. READ the TTRIF thread. PUMP AND DUMP
I've owned over 500,000 shares of TRIFF for as long as 2 years--have traded it a lot during this time, but have never been out of it completely. Currently own 540,000 shares, and have posted on that thread since its inception over 1 1/2 years ago, so think I have considerable more knowledge than you concerning TTRIF. There are currently 3 people in the IR department--and I refuse to talk to any of them because of their unconscionable, unrelenting super-hype. When Lionel was there, I talked to him at a minimum of weekly and it wasn't like that. In a year and a half of talking to Lionel at TTRIF he never lied to me, although some of the forward-looking predictions never panned out. Nevertheless, TTRIF is up 103.3% in 1997 according to todays listing of the 500 largest NASDAQ stocks by dollar volume. Pump and Dump--bullshit!!
fact #20: this stock has a market cap or is worth 45 million dollars. does the gold found so far justify this market value? does it?
Gold found so far by a development mining company is irrelevant. Reserves or potential reserves are what determine a gold mining companies value. Someday, perhaps, you will get that through your thick head! Reserves of lode or hard rock mines cannot be delineated by drilling as dirt mines can. Dirt mines holes are drilled 100' apart to locate the extent of the ore-bearing dirt--in a hard rock mine, even drilling 25' apart could totally miss a rich vein of only a few feet's width--so reserves are estimated or inferred from extrapolating known ore shoots to a greater depth. This method unquestionably leaves a lot of room for error, but until someone invents a "radar" that looks down into the earth and can "see" high density mineralization, i.e. GOLD, I'm afraid inference is the best available. If the known ore shoots that currently have been mined to a 600' to 3000' depth during the last century are extrapolated to a modernly attainable 10,000' depth, this could support a market cap of $300MM. Take the Keewatin report and todays POG with BCMD's estimated $150/oz cost of production and figure it out for yourself. (And I dont mean the 20 or so page executive summary--I mean the whole 800 pages.)
This damn thing has taken 3 1/2 hours to do and its 3:00 AM. I quit posting several weeks ago on any thread because it simply takes too much time--time that I dont have to spare. Take all of what I've written here as you will--I will not respond further and cant answer further questions this missive might elicit. Anyone taking the time to do their own so-called DD would know that Goldfingers ravings are just that: unsubstantiated half-truths, distortions, or errors at best.
Regards to all,
Gary |
