The Investment Industry Regulatory Organization of Canada this morning granted a trading halt – "pending news" – to Barkerville Gold Mine Ltd., a Vancouver mining company that has hit the headlines over its huge gold resources estimates.
Stock watchers have had their eyes glued to the company since it published a massive resource in late June, waiting for a technical report to explain the methodologies behind the estimate.
The company has estimated an indicated resource of 10.6 million ounces of high-grade gold at its Cow Mountain deposit – an announcement that caused company stock to spike briefly before those gains melted as online stock forums buzzed with skepticism about the resource.
In early July, Barkerville revealed that the BC Securities Commission had also expressed concerns about its methodologies but stated that it expects to be able to put those fears to rest.
"The company ... is confident that the supporting appendices to [the company's] draft technical report, which had not been completed and provided to the BCSC in the first instance, will adequately address the recent comments from the BCSC," Barkerville said in its July 12 update.
Company stock has since gained some ground in the wake of the company's July 13 announcement that it had received an amendment to its Mines Act permit to enable the mill at its QR mine to process ore from its newly-permitted Bonanza mine.
As of press time, Barkerville's technical report had not been released.
