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Gold/Mining/Energy : Birim Goldfields Inc. (BGI-T)
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To: Gabe Heti who wrote (458)2/5/2000 12:10:00 PM
From: Brian MacDonald  Read Replies (2) of 922
 
Gabe,

You have a good point about worry about ASL holding down BGI even while gold rises. Remember, however, that Mampon represents only a very small portion of BGI's land-holdings in Ghana and that, with a rising gold price, the other attractive properties become even more attractive to those willing to invest in speculative mining ventures.

I will concede that it would be best for BGI (and all concerned) if ASL doesn't falter here. But, even if it were to have problems, it doesn't deter from the fact that many Ghanaian workers' jobs (approx. 9,000 I believe) depend upon the exploitation of the known Mampon resource. In light of this need for the Government to be seen as doing something positive for the workers, I'll bet that pressure will be applied to have this zone brought into production ASAP.

BGI is about the embark on a drill program that should yield very good results. This in turn should help to spark renewed interest in BGI and therefore more buyers than sellers. We'll have to wait and see.

Brian

BTW, you may have noticed there was a large number of shares available for sale at $0.28 (173,500??). On Friday afternoon, they were not there any more. Could it be that the sudden rise in the price of gold has the seller(s) thinking that the price is about to rise and that they can do much better than $0.28? Let's hope that the lid is being lifted and that we will begin the trek North of $0.50
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