Fracois,
You or I are not being told the truth about Bema, .... or some of us did not fully understand what has been said over the phone...., now keep in mind that within the same brokerage house you may have different interests (depending which stock your broker is trying to promote at any given point of time). My informtion is based on the analyst that is following this stock and therefore the company using as the basis for setting the target price for the company (which according to my broker will be -or is already - $20), I trust very much my broker and she has never lied to me (yet).
I am not aware about the processing cost per ton and this was not raised as an issue by my broker, but if I just use common sense, I can not understand how a single hole would change the cost so dramatically that it would put it on the bordering line of feasibility (as you imply on your note)!!!, do you know what was the previous cost estimate before hole 29 was reported?? It has to be some value much better than $340, otherwise big houses like Yorkton would not touch this stock with a 10 foot pole!!...
I DO ACCKNOWLEDGE THAT HOLES 31,32 ADN 33 WILL BE CRITICAL TO GAIN THE CONFIDENCE OF THE INVESTORS BUT HOLE 29 SHOULD NOT BE THE CORNER STONE FOR JUDGING THIS PLAY!!.
Regarding your question about finding gold on the top of a mountain, I meant this for the Cerro Casale situation, take a look at the profile of the porphyry deposit (see Bema Home page at bema.com and you will understand what I meant...the area where they drilled was on the other side of the mountain and basically was for the purpose to test the boundaries of the zone( this is what I was told by the company and reported on the news, if they are not telling the truth then rest on their heads not mine), I am not expecting Bema to find gold all the way to Santiago (Chile's capital).
We do agree on the fact that a position could blind good judegement, and since I am not an expert on the matter of mining and geology, I just have to base my investement decision on the mining experts: So far I heard thumbs up from Gundy, Adrian Day, Yorkton, and Dean Knight (waiting for Bob Bishops pronouncement)...since I am in USA and do not have the privilege of reading the news in Canada, I would appreciate if you can let me know what (reputable) expert has given the thumbs down to this play to put in my decision balance.
Finally, I agree if indeed the cost of recovery and processing is at the $ 340 then Bema and Arizona better start packing north...but the fact that they will invest several millions to keep exploring the property is a good indication that they feel confident that the mine is feasible..
We have to remember that the feasibility study was started before the additional high grade zone mineralization was discovered...
Time and results will tell...so far I am optimistic.
By the way, I do appreciate any comments that will keep me honest and cool headed in my investements..1040 and back to you
Eric |
