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Gold/Mining/Energy : Bema(Bgo) and Arizona Star
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To: Simon Sichewski who wrote (32)8/16/1996 8:24:00 PM
From: Jason Marcotte   of 10482
 
I really wouldn't say at this point that this deposit is bigger or better
than Arequipa. Generally Arequipa has higher grades (3 to 7 grams per ton versus
the 1 to 1.5 Bema has found) and is much closer to the surface, conducive
to a simple low-cost open pit. Even if Bema has more contained gold,
it won't do the company any good if it is not profitable to mine it.

As far as AZS, I think you can read a lot into the statement at the end
of every joint Bema/AZS news release:"Bema Gold is the largest shareholder
of Arizona Star and manages its affairs."
Bema has 'controlling interest' and thus is fully in charge of this deposit.
I could probably name you a 1000 companies where the controlling shareholder
is not the majority shareholder. Now I realize this may not mean a lot
for short term traders who are simply "in a stock play", but in the long
term there should be no doubt that the future of this deposit is squarely
in Bema's hands.
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