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Gold/Mining/Energy : Precious and Base Metal Investing

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To: TheBusDriver who wrote (2201)	3/7/2002 1:36:56 PM
From: russwinter	Read Replies (2) of 39344

<What majors want and what they can get just might be two different things.> Bingo: exactly my "tooth fairy" analogy. They will have to go after unfinished projects and just get whatever they can as cheaply as possible and if need be finish the job themselves (juniors can't anymore). The reserve replacement "problem" is just going to get worse and worse for the producers. The GLG's and mid tiers are too expensive to buy, as the stock market has over rewarded them. The action will still be the juniors and there is now one less to contend with <g>. I'd use the FGX proceeds to just patiently start stinky bidding the good names off this little "gift" (thank you, Jesus!!) the lean crowd is giving us on the latest POG/POS fainting spell. I've one area play I think will get hot: Ghana, and two absolute gifts: Moydow and Birim. AU will start making a move there and I wouldn't be surprised to see others. BGI needs to be bought by ASL, Golden Star, AU or even NEM (more likely MOY) or ABX. Reread a Van Doorn report and he says about BGI, "Birim has the best exploration program in Ghana. If a major wanted to establish a program there, it would have to spend in excess of US$5 million before the first drill hole.". BGI has the lucrative Mampon royalty, Dunkwa, Akrokeri, and Bui and has a give away US$4 market cap. It probably makes no sense for them to continue alone any more. Peter Bradford (GSC): telephone: (303) 830-9000 are you listening? Stock swap time a la GLG!! MOY's is less than US$7 m and they have two million cash.

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