SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : Birim Goldfields Inc. (BGI-T)
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: baystock who wrote (698)11/9/2001 2:08:53 PM
From: russwinter  Read Replies (1) of 922
 
I asked Simoneau this very "check is in the mail" question. This is being delayed over a permit issuance. That's one of the reasons that Simoneau was in Ghana recently. Apparently he (and four other companies) were at the mining bureaucracy trying to expedite the process. ASL is prepared to start mining as soon as the permit issued, and the check will be immediately presented to BGI.

The other issue I spoke with Simoneau about was the whole shareholder value enhancement issue, and the "small thinly capitalized junior going it alone in Ghana model". He is basically an old school junior executive, who says he's job is mostly about successfully finding gold and letting the "public market" reward shareholders accordingly. I challenged him that this approach wasn't working for shareholders as the public market is not functioning here (or for virtually all other juniors). I detected a sort of "oh well", put it in the suggestion box reaction from him? Just my impression, maybe others have a different one?

I see BGI differently now. I think they need to first get the royalty in hand, and look for some synergy or sell out to the various other mid tiers and majors that are expanding in Ghana. Maybe readdressing the old GSR deal might make sense? Repadre is another possibility? Goldfields? Ashanti? BGI is a fine asset, and shareholder value needs to be maximized. Simoneau needs to account for the 19 cent stock price, does he not, otherwise he is failing us?
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News