Bre-X - Is it a good buy at these levels ? Message Board

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Gold/Mining/Energy : Bre-X - Is it a good buy at these levels ?

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To: vinod Khurana who wrote (26)	4/8/1997 9:46:00 PM
From: clifford atkin	of 75

vinod, bema's reputation is known. they are not a fly by night company. their experience and management are beyond question. they have succesfully developed the refugio mine, 8.6mm ozs. producing 250k ozs per year on the way to 300k per year. additonally, the 24mm ozs you refer to is the cerro casale, they have a 49% interest + another 16% interest through their stockholdings in arizona star. in total they have a 65% interest in a minimum of 24mm ozs of au and 6.4mm pounds of copper. this is 40mm gold equivalent. blue sky of another 5mm ozs at the aldebaran property plus blue sky of another 4-6mm ozs in the maricunga belt at 100%. in total not counting their subsidiaries, ecm, pum etc. bgo has at least 40mm ozs+. at a market cap of 800 mm this comes to 20bucks an oz in the ground. the stock should be taken out at 15 per share or rise to that level this year. guess what they don't crush their cores! and their head geologist has never fallen out of a helicopter. but I'll tell you one thing, they need to higher brx's public relations department. those guys now how to pump iron. clif

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