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Gold/Mining/Energy : Birim Goldfields Inc. (BGI-T)

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To: russwinter who wrote (502)	2/15/2000 9:24:00 AM
From: Brian MacDonald	Read Replies (1) of 922

Russ, This may be all moot. Here's something from Accra this morning. Notice the last sentence. "He said he expected the talks to result in a new loan agreement." Brian --------------- GHANA-ASHANTI =2 ACCRA Gandur said talks between interested parties were taking place on Tuesday to decide how to proceed after an Accra court ordered the company last week to hold an extraordinary general meeting to discuss board changes demanded by minority shareholders. The court case arose from a desire by some shareholders to sell some mining assets to resolve a financial crisis linked to hedging losses which brought Ashanti to the brink of default on its financial commitments. "We are putting a lot of pressure (for) changes to make sure that the diseases that have brought the company to where it is today will never happen again, that the board will be so much more independent," Gandur said. He said financial institutions including banks and hedge counterparties were also represented in the talks in Accra. "I believe the banks are now happy, or on the verge (of being) happy with the new developments." He said he expected the talks to result in a new loan agreement. REUTERS Rtr 08:44 02-15-00

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