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Gold/Mining/Energy : Birim Goldfields Inc. (BGI-T)
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To: Winzer who wrote (296)9/27/1999 3:24:00 PM
From: Brian MacDonald  Read Replies (2) of 922
 
Winzer,

I've seen the latest upgrade recommendation from John Kaiser. He's really high on BGI. As he owns some of the stock, take that comment for what it's worth. Still, he does a very good job of evaluating the prospects of BGI now and into the future in this 'new gold market'. If I can, I'll post portions of the recommendation so that you can judge for yourself.

Notice that BGI is not going up much this afternoon despite gold's steep rise. I guess that's because Ashanti will benefit most from the deal they've signed and Birim has effectively 'sold a call' (put a cap) on the the Mampon property. Still, they have lots of excellent property left in that area, and plenty of potential on Bui, so this increase in the POG should do wonders in attracting some speculative capital - now that they will have a good base for cashflow and some money in the bank.

At these levels, and with what is now happening with gold breaking out above $270.00, I'd have to say that BGI would now be an excellent 'Buy'. An Analyst was just on CNBC and she mentioned that gold has an effective 'floor' of at least $270 and it could trade as high as $390 with the 'shortfall' of gold available for the market.

That's very good news for all gold stocks.

Brian
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