SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : Bema(Bgo) and Arizona Star
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Ron Pitts who wrote (8038)10/27/1997 7:59:00 PM
From: Terry Swift  Read Replies (1) of 10482
 
You nailed it, Ron. Bema got a better deal than I expected. They got $98 million of their capital paid by PDG ($200 million X Bema's 49%) plus $10 million cash. Casale, 3 Amigos, Eva, and probably a few other drill targets will either be mines or part of the huge mine complex and infrastructure that will become the Cerro Casale mine.... and Bema will not have to take on a nickel of debt for any of it to happen.

Placer must spend $15 million to explore other sites (which they want to do anyway) and $25 million for feasibility study. This frees up Bema to drill Quebrada, Lo Increible, and put in mines at each as well as Yarnell. Also, expansion of Refugio and mine at Pancho are in their 4 year plan.

Placer knows exactly what they've got. They put a 2 year deadline on feasibility study so look for them to drill the hell of Aldebaran before they start their feasibility study. To the extent they can make other sites part of a huge CC mine complex, that's what they'll do.

It was a bloodbath today in all the golds but, long term, Bema is on its way to being a major producer.

I expect Bema will wait a suitable period of time and then take out Star and El Callao and bring them under the Bema corporate structure. I knew Placer had to be in this to end and thank God we're JV'd with them rather than CYM.

Terry
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News