Take physic, pomp

Annals of junior exploreco BS, Barisan Gold (BG.v) edition

This is a copy of the mail that Alex Granger, CEO and main bovine excrement distributor at Barisan Gold (BG.v), sent out to a whole bunch of market commentarists, mining parasites, Venture exchange carrion eaters and junior sector hangers-on in a mail this morning that was designed to supplement this NR from the company before the open today.
And it looks as though the pump job has worked, for today at least, because the wretched thing is up 100% on 2m share volume. But my stars, what kind of BS is this? Just to start at the most brazen moronity, how anyone can write “ZERO political risk” for any project in Indonesia is beyond my ken. I mean, shouldn’t the BCSC be looking at this sort of guff and nonsense from a company freakin’ CEO more than trying to cross Ts and dot Is in public NRs? It’s utterly shameless.
As one very experienced market pal said, after guffawing loudly at many part of the mail’s contents, “Honestly, for anyone who likes this deal there are a couple of Nigerian entrepreneurs who are looking for some backing to get some millions out of a sealed bank account”.
Avoid Barisan (BG.v) like the veritable plague, kind IKN reader.


Good morning All!
landmark deal has been signed by Barisan this morning. We’ve locked up
one of the strongest most influential Indonesian conglomerates to help
us develop our world-class copper-gold projects in Indonesia.
Indonesian conglomerate has agreed to spend 100% of all money required
between now and the issuance of  mining licenses (we currently have
exploration licenses). This includes exploration, feasibility studies,
permitting, etc… Based on our internal calculations that amount is
estimated at upwards of US$25 million over the next 3 years. In
exchange, they get 80% of the project area (Barisan will maintain 20%,
fully carried interest).
What does this mean?
1) ZERO Permitting risk. These guys know what they are doing in country
2) ZERO Political risk. Our partner is one phone call away from the Indonesian President and his people.
3) ZERO Financing risk. Fully financed by the partner.
going from owning 80% of a spectacular project that was deemed
impossible to finance in the current market environment to owning 20% of
a fully-financed without political risk world class project.
importantly, the value accretion to Barisan shareholders is
breathtaking. The number of shares that would have been needed to be
issued to self-fund that US$25 million would have been astronomical. And
on top of that we would have needed to carry the potential
political/permitting risk which is now a non issue. Spectacular outcome
for all of us shareholders (of which I am the second biggest)!
per the press release, we’ll be raising a small $500,000 to bridge the
gap before the transaction closes as required by the terms of the
transaction. This is most likely the last private placement of Barisan
Gold for the next 3+ years as the projects are now fully funded. I
expect the private placement to close within a few days. We’ll make sure
all our loyal historical friends get any allocation they want but
please reach out to Shawn, Michael or I quickly as this will close in
quick order.
is about to become a sought after commodity. Who wouldn’t want to own
20% fully-funded interests in world-class copper-gold assets that are
hugely economical at even the current commodity prices.
As always, I am available to chat anytime for anyone looking for more colour.
Alex Granger
Chief Executive Officer
Barisan Gold Corp.

Hong Kong Cell: +852 6070 6211

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