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Gold/Mining/Energy : Birim Goldfields Inc. (BGI-T)
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To: russwinter who wrote (643)7/11/2001 7:53:13 PM
From: baystock  Read Replies (1) of 922
 
<Can do it at full feasibility, when NEM would have to pay four times BGI's expenditures for the stake. >

4 times is not much of a premium when money is so hard to come by for the juniors.

< But forty million would be ten times today's market cap. >

They are only getting $4 million advance royalty. The small surface deposit may get produced quickly but the ores that need undergound mining are many years away from realizing royalty revenues for BGI. What's to stop Ashanti from waiting years to start building the underground mine after they have mined the surface deposit ?
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