Birim Goldfields Inc. (BGI-T) Message Board

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Gold/Mining/Energy : Birim Goldfields Inc. (BGI-T)

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To: Gabe Heti who wrote (864)	7/7/2003 11:02:42 PM
From: jacq	of 922

Birim will have an immediate cash improvement of $6,000,000 dollars or approximately $0.16 per share no debt and good prospects in the region. (The Bui concessions.). The $3.4 million is an advance royalty. The remaining amount is a reimbursement of expenses. The royalty rate you quoted was for gold above $400/ ounce. The present gold royalty would only be 3%. This amount would provide a stable cash flow for the next several years until Birim finds more reserves. I do not anticipate dividends any time soon. For 5 million ounces we are talking about $1.50 per share. If production of those ounces take 7 years then the stock is worth about $0.75 U.S. for Dunkwa alone. At present the Bui concessions are not delineated, so I would think that they would only be worth $0.10 per share until there is a bit more information on them. I would think it is reasonable to expect a triple from the present price of $0.40 CDN.

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