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Gold/Mining/Energy : Birim Goldfields Inc. (BGI-T)
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To: The Barracuda™ who wrote (449)2/1/2000 8:08:00 PM
From: Brian MacDonald  Read Replies (2) of 922
 
Robert,

For the moment, that's the case. It seems as though some large holders see this news as a sign that there will be buyers and that they wish to make an exit when those buyers step forward. There's nothing wrong with that except that by bringing such large chunks to the table, it will take a combination of many buyers, or a few large buyers, to get rid of this overhang.

Frankly, I can't see the logic of selling at this stage unless one really needs the money.

We know that BGI has just received $US 1.5 Million and are about to embark on a very ambitious (or should I say, solid) drill program.
ASL really needs the feed from Mampon for two reason: cashflow and gold in reserve. Hence, they are more than likely to fast track the Mampon deposit thru 'feasibility' and then to production. That will mean another chunk of change for BGI.

The spin-off of the drilling will have the benefit of setting up another similar deal - either with ASL or with GSL. I think that this will be a certainty as BGI hasn't enough funds of their own to bring it to production themselves.

Finally, with the monies they will get from the Mampon zones, BGI will be in an very good position to drill the exciting BUI deposit and bring Kennecott into the picture thru the back-in arrangement.

I realize that these things will not happen over-night but at $0.25/share, what does one expect?

In a few years from now, if all goes to plan - or even close to plan - BGI should be worth several times what it is worth on the market today.

Brian
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