ECM.VSE - El Callao Mining. Message Board

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Gold/Mining/Energy : ECM.VSE - El Callao Mining.

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To: John Soileau who wrote (815)	7/10/1997 6:39:00 PM
From: Lore	of 1253

I'm not sure what the answer to your question is but I spoke to Andrea Ballen, IR at Bema today about the situation. I know it's her job to do this--but I felt much less panicked by the end of the conversation. She pointed out that the stock is extremely under valued with 2 million plus ozs. in reserve and everything on the ground level of operations going extremely well. She also said that ECM has $50 million in cash reserves c/o Bema so there's no chance of going belly up. I asked about takeover possibilities and she confirmed that yes, there was a possibility of being folded into the Bema corporation but at this point it was just talk. As for the recent plummet in gold--it's a psychological reaction more than anything else. Things will stableize -- but then again it's anyone's guess when. Also, re. the scoping study -- it will be released this month or next, but she couldn't narrow it down beyond that. Loren

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