This is from memory as I didn't take notes, so if there is any discrepancy anyone who was there during the presentation and after can add their comments.
Production is to start sometime in October at the newly permitted Bonanza Ledge open pit mine I believe it is. Please correct me if I'm wrong.
First gold bars expected to be poured by the end of October. We should hopefully be getting an update when details are confirmed. This isn't material as it has already been released in the news back on July 16, and since we are under CTO, can't effect share price.
Currently there are drills turning on the property to twin holes and confirm data that will be added to the resource estimate.
Frank C. says that Peter George is working on confirming the numbers that were made public and posted on Sedar Aug. 13, 2012. They are confident that PG will have enough extra information and data added in the new report to support the resource numbers that were made public in the tech. report of Aug. 13.
The drill data is being audited or re-examined by a third party to confirm results. I believe Snowden was mentioned. Was difficult to hear Frank C's responses outside the workshop hall.
BGM has very little in cash and Frank C says that he is covering current costs out of pocket. I didn't ask, but since BGM is about to get back into production, I would think that gold sales will more than cover drilling and admin costs moving forward.
So it's up to the BCSC and Peter George now. Can't jump to conclusions on what will happen there, but work is being done, and Frank C is confident in Peter George and that newly included data will suffice the BCSC. That's what we all hope isn't it?
A very positive note is that BGM will be a producer, and that Frank C is using personal funds at this juncture.
I may not have covered all the bases. Frank C couldn't comment too much on the new resource estimate except for being confident that they will be able to suffice the BCSC.
Hopefully when they issue a corporate update, we will be able to get confirmed timelines on the new production from their open pit mine. As for the new resource estimate and when the BCSC will accept it and revoke the CTO, it's anyone's guess, but it will happen. JMO
