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Strategies & Market Trends : Classic TA Workplace

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To: yard_man who wrote (38856)	5/11/2002 12:55:39 PM
From: David Zgodzinski	Read Replies (2) of 209892

To counter some clownishness: Last year's earnings for BGO aren't significant. They had a rough couple of years. It's fun looking at five year charts of all these stocks. BGO opened a mine in Russia a few months ago - gold and silver, they own about 70% or so, I think. Low cost production - it produces a lot of silver. But earlier this year the Refugio gold/copper mine in Chile which is 50/50 BGO/Kinross was closed down by Kinross (the operator) because it was more expensive to mine than they had thought. So until the Julietta mine in Russia was opened, BGO's situation didn't look so good. Refugio was still making gold from the heaps, but not doing any new mining. If gold goes back over $325, they will look to open Refugio again and that would help BGO's bottom line quite quickly. They also have about a 25% stake in Cerro Casale (i think that's what it's called) which is a gigantic low grade gold/copper deposit in Peru. Placer Dome is the operator. That one would start to look interesting if gold looks like it's going to stay north of $350/oz. It will take big investment. So BGO is in a position to have revenues ramp up pretty substantially if gold keeps moving up

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