And thereby hangs a tale

Bear Creek Mining (BCM.v) shareholders lose their sense of humour

But seriously, after this deal on these terms what else did you expect?

You know the old market saying about shareholders who can’t take a joke, right? Tony Hawkshaw does.


    Appears like Sandstorm owns the mine and Bear is just producing the gold for them. Shareholders get the shaft whilst insiders get more cheap shares and bigger bonuses..


    At around 30m in the Bear Creek conference call, Hackshaw comments: “You might say that Sandstorm gift-wrapped it and handed it to us.” We know by now that Sandstorm has a habit of making cheap deals with exploration upside (among other habits, as you dutifully note.) They are betting on exploration upside here, with exploration drilling set to quadruple for the next 2 years. That said, the conference call from Bear Creek was cringe.


    I note that both BCM and SSL have the same corporate address. Is there more to this deal than what’s in the news release?


    Just doing a Waterton Global type “deal.” Everybody wins ‘cept shareholders.


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