Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (12661)	4/23/2015 7:04:11 PM
From: Rocket Red	Respond to of 202406

Barkerville's QR mill processes 28,936 t in 2015 2015-04-23 17:49 ET - News Release Shares issued 129,649,745 BGM Close 2015-04-23 C$ 0.26 Mr. Greg Gibson reports BARKERVILLE GOLD COMPLETES BONANZA LEDGE BULK SAMPLE Barkerville Gold Mines Ltd. has provided key results from its recently completed phase 1 test pit at the Bonanza Ledge deposit. Phase 1 test mining at the Bonanza Ledge open pit has been completed and continued to demonstrate improved grades with depth. Milling and refining took place at the company's QR mill near Quesnel, B.C. During 2015, the mill processed 28,936 tonnes with a head grade of 12.55 grams per tonne, giving recoveries of 95.6 per cent, resulting in 11,162 ounces poured. In 2014 the tonnage processed was 62,298 at a head grade of 6.85 g/t with recoveries of 91.6 per cent and 12,564 ounces poured. The totals for the Bonanza Ledge phase 1 test pit are: 91,234 tonnes processed at a head grade of 8.66 g/t, yielding 23,726 ounces and a total recovery of 93.4 per cent. As a result, BGM has reduced its debt by approximately $12-million to date in 2015. Further mill cleanup may result in additional ounces recovered and added at a future date. Milled tonnes Head grade (g/t) Rec % Recovered ounces 2014 62,298 6.85 91.6 12,564 2015 28,936 12.55 95.6 11,162 Total 91,234 8.66 93.4 23,726 BGM continues to build an exploration and development plan based on primary ore and mineralizing controls from first principles in keeping with management's previously stated goals (refer to press release dated March 17, 2015). This undertaking has commenced under the direction of Paul Geddes, vice-president of exploration, and includes compilation of all available historical underground and production data. A series of smaller-scale, high-grade, low-capex operations will be of prime consideration to the current team, and is well within the new management's areas of expertise, experience and proficiency. Additionally, an assessment of BGM's extensive landholdings and external assets will also be made in order to extract value and maintain focus. Chip, muck and mill samples are assayed on site in the company's assay lab using the fire assay method with an AA and gravimetric finish. The company's quality control and assurance program includes the insertion of standards, the retention of pulps and rejects, and spot checks utilizing independent labs. The technical aspects of this press release have been reviewed and approved by Dale Ginn, PGeo, a geological consultant to the company, and the qualified person as defined by National Instrument 43-101 for this project. We seek Safe Harbor.

To: Goose94 who wrote (12661)	4/23/2015 7:11:12 PM
From: Goose94	Read Replies (1) \| Respond to of 202406

Has China Doubled Its Gold Reserves? - IMF May Soon Find Out Once again, speculation is cropping up regarding the size of China’s gold reserves and whether or not the People’s Bank of China has been bolstering its holdings in secret.According to data from the International Monetary Fund, China’s official gold reserves have not changed since 2009, standing at 1,054 tonnes. However, Marc Chandler, head of global strategy at Brown Brothers Harriman, said in a report Thursday that the country could soon update its reserves. He noted China will be meeting with the International Monetary Fund (IMF) in May to make a case of including the yuan in the IMF’s Special Drawing Rights (SDR), a basket of currencies made of U.S. dollars, Japanese yen, pound sterling and euros. “The cloak of secrecy may be lifted if China wants to bolster its case for being included in the SDR. We have previously made a similar point about the currency allocation of its currency reserves,” Chandler said. However, Chandler added that because of the small size of the gold market, compared to foreign exchange markets, it is unlikely that China has significantly increased its gold reserves. “The gold market is far too small to replace even a significant part of the paper money,” he said. BBH is not the only firm speculating on China’s official holdings. Also on Thursday, French bank Natixis presented arguments for and against China buying more gold. They noted that China could have doubled its gold holdings to 3,200 tonnes in 2013 by taking its entire domestic mine supply. “As for local demand for gold, it could have been adequately satisfied by imports,” said Bernard Dahdah, precious metals specialist at the France-based bank. Similar to BBH, the argument against China increasing its reserves is, as Dahdah agrees, that the gold market is too small to make a difference in a central bank’s total foreign reserves, and maybe not an efficient way to diversify its holdings. They noted that if China did actually double its reserves to 3,200 tonnes, it would only increase its percentage as part of total holdings to 3.3% from 1.5%. “While some would see this as a patient, long-term way to add gold reserves, others view it as an argument against attempting to accumulate significant volumes of gold, indeed some Chinese officials have voiced publicly their opposition to the idea of adding gold to FX reserves,” Dahdah said. Dahdah added that it makes more sense for China to decrease its foreign currencies, thereby increasing gold’s role.