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Gold/Mining/Energy : BLACK HAWK (TSE:BHK)
BHK 9.510-0.4%Jan 28 4:00 PM EST
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To: Stephen O who wrote (77)5/18/1998 2:37:00 AM
From: nammir chucri  Read Replies (1) of 545
 
According to the figures published by Triton ,Argentine property has
proven and probable resources of oz/gold 600.000 at a mine cost of
US $ 188 per oz,comparable figures of Limon mine are 415.000 oz
and cash cost of US $274.
For two years Triton has tried to bring the cost to the $241 without
success,if BHK find a way (without pushing the ore grade) to bring the cost to the$205 level,BHK could pretend to acquire 75% of the
world gold mine with a cash production cost of $260 and runs them
economicaly.
The "technical" management of BHK do not have a say in this transaction,the big guns in both boards of directors are the ones
running the game.
The loan agreement with between BHK and Triton was prior to the
agreement with Global,no need to wait for Global to come up with
the money.
The market is more efficient that you do think,a chart for BHK
will show you that as this merger was declared BHK price share slide
begun.
The idea of investing $20 million in a steam generator is like the
idea of investing in a big hole,the more you invest in it the more
larger it becomes.
As for BHK mgmt had no idea about the history of Global,are you
serious!!!Are you ready to invest in a company who do not check
a main joint venture partner.
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