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Gold/Mining/Energy : Bema(Bgo) and Arizona Star
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To: B. Dent who wrote (10182)9/14/2000 2:51:03 PM
From: alannoble  Read Replies (1) of 10482
 
The way I see it is just another move by management to buy some more time. Bema seems to need to raise about 2 million plus every six months, not surprising when you have to meet such huge salary obligations. What with Refuse-to-go still not pulling its weight and all, none of this money is going into the ground. Bema management has assured itself that there is money for themselves now, six months out, and a year from now. The El Callao shareholders be damned, management takes care of itself first. Then again, with BGO going down the tubes, maybe ECM will be better served in the hands of KRY; not exactly the team I would choose. Don’t expect any of these funds to be put back into exploration and development, unless its some token payment on behalf of one of the juniors, and most likely then only if there’s a management pocket to be taken care of first. Ouch. Harsh.
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