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Gold/Mining/Energy : Bema(Bgo) and Arizona Star
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To: John Soileau who wrote (10208)9/26/2000 12:35:56 PM
From: terryswift  Read Replies (1) of 10482
 
Nowhere in that circular does it say anything about security being put up by BGO to protect AZS. I don't think AZS is secured. If BGO defaults on the loan, AZS will have to pay it and become an unsecured creditor of BGO. Talk about worthless paper. Unsecured debt of BGO is about as worthless as you are likely to see. That's not junk bonds; that's toxic waste.
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