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Gold/Mining/Energy : Birim Goldfields Inc. (BGI-T)
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To: The Barracuda™ who wrote (488)2/13/2000 5:59:00 PM
From: russwinter  Read Replies (2) of 922
 
I think ASL buying back hedges would generally help the POG. I don't see it as sudden. Also remember ASL's problems have very little to do with BGI. Obusai will stay in production as will the Mampon feeder operation REGARDLESS OF THE ENTITY that emerges from ASL's troubles. BGI IS NOT AN ASHANTI PLAY (although it is an Obusai play), and therefore excessive focus on ASL as a major variable in the BGI equation is exaggerated.

As Obusai is the key to the creditor's solution to their(not BGI'S) problem, this mine must be put into strong hands one way or the other. The solution is a downsized, more solvent ASL or a new owner. An insolvent operator of Obusai is not in ASL's best interest, or the best interest of their counterparties or bankers. Therefore the oxide royalty will be paid to boost Obusai's production and lower it's costs.
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