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Gold/Mining/Energy : Birim Goldfields Inc. (BGI-T)
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To: jacq who started this subject3/27/2002 12:57:07 PM
From: The Barracuda™  Read Replies (2) of 922
 
Weakness in Birim
From Birim's financials

LONG TERM DEBT:
At Mar. 31, 2001, outstanding long-term debt consisted of a $842,086
(US$500,000) convertible debenture due November 2003, bearing
semiannual interest at LIBOR plus 1% and convertible into common shares
at $0.45 per share

The convert at 45 cents is holding Birim down. Its owner is probably engaging in risk free (they think) shorting of BGI knowing that if the stock rockets, they are covered at 45 cents.

If bgi breaks above 45c, its shares should start out performing other gold stocks on the upside by exponential amounts.

45 cents is the key number.
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