There was a little more in the GAM divorce though. Seems BSG set themselves a short time frame to get into production. They must have made two assumptions (guessing). 1/ That it was a simple heap-leach project and that is what they knew from Georgia. 2/ Nothing is ever delivered on time and that an extension would be granted as a matter of course.
Point 1 puzzles me because from the little we were told they had decided that a vat-leach process was better and that was always going to made the deadline impossible. But they are using heap-leach now. Strange.
Point 2, that GAM was totally inflexible on time extensions must have just been that the two boards were incompatible. In the end a Mexican Standoff ensued where BSG wouldn't hand over BFS data till GAM granted them time, which didn't happen. So GAM bought the (otherwise) worthless data from BSG for 5mil, which sounded very cheep to me. Looking at the mess they are in now, the data may have indeed been faulty, thus worthless.
At the time I thought GAM couldn't dig a country dunny and maybe I was right. The joke is on us though because BSG can't either. LOL
So it now seems that Canadian smarties as as bad as West Australian ones. I guess it isn't called "speculation" for no reason. LOL
BSG Price at posting:
0.0¢ Sentiment: Sell Disclosure: Held
