Seven months after the B.C. Securities Commission slapped a cease-trade order on shares of Barkerville Gold Mines (BGM), the stock remains halted. The regulatory slapdown came after Barkerville, helmed by Frank Callaghan, proclaimed an NI 43-101 resource estimate of 10.6 million gold ounces, indicated, for its Cow Mountain project and the “geological potential” for 65 to 90 million ounces.
In August, I blogged about Barkerville as a case study for the importance of due diligence, particularly in the junior mining sector.
But there’s unrest among shareholders – imagine! – particularly one Rex Harbour, who owns 7% of outstanding shares and has gone to B.C. Supreme Court in a bid to force Barkerville to allow one of his director nominees to be a candidate at the upcoming AGM, according to this Stockwatch article. The AGM will be held on April 16 at the Rosewood Hotel Georgia in Vancouver.
On the bright side, the company has finally fixed the misspelling of Premier Christy Clark’s first name on its homepage (For months, the featured video advertised “Christie Clark at Vancouver Round-Up.”)
Come to think of it, the cease-trade order has helped Barkerville avoid a particularly nasty spell in the junior mining space, particularly among the golds. If gold finally goes on a run and the juniors follow just as the cease-trade order is lifted, Callaghan may yet get the last laugh.