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Gold/Mining/Energy : Bema(Bgo) and Arizona Star
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To: the Chief who wrote (7834)10/17/1997 11:42:00 AM
From: burner   of 10482
 
To All,
I believe new targets have been set by the following brokerage houses:
Scotia McCleod
1st Marathon
Yorkton
Wood Gundy
Dominion Securities
and Nesbitt Burns.

There are varying opinions from these houses re the stock. Some have upgraded their targets and some have downgraded. I don't know the details but if anyone has the resources to obtain the figures it would make an interesting and informative post, unlike some of the rub-it-in your face stuff we are seeing now.

IMO the company, in trying to deal with a negative market sentiment toward gold, has victimized itself with poor timing of news releases and poor explanation of PF projections. I think it was imprudent to include a projection based on a somewhat arbitrary $375 POG.
The market lives in the "now" and has probably perceived that as an attempt to camouflage the $325 reality. The only thing able to help the stock now is a reversal in the POG. I believe majors will back off in this declining market and wait for a bottom before renewing interest in property acquisitions.

I would like to see Bema concentrate on drilling, and reporting, on other prospects in other deposits. To focus entirely on the CC will not generate any excitement in the investment community.
Best of luck to those who are long,
Dan Byrne
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