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Gold/Mining/Energy : Bema(Bgo) and Arizona Star
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To: Terry Swift who wrote (8218)11/1/1997 9:13:00 PM
From: burner  Read Replies (2) of 10482
 
Terry,
Many of us are disappointed simply because we thought we might get rich quick. It didn't happen. the market has been bizarre; decisions, made in good faith, may have hurt share price; timing has been ironic.
The fact is, IMHO, Bema is a better than average gold company. If one believes gold will rebound then they may as well have their monety invested here. I admit I am worried about Star as it does not have the versatility of Bema and bears the stigma as being a one-shot-wonder on the VSE. At least the CC represents financed ounces after this deal with Placer
I suspect that Bema will consolidate its holdings in time. I they do move AZS into the company I hope they are able come up with a plan that is fair to its shareholders based on the potential it carries not on current share value. Many of the AZS shareholders bought in at significantly higher prices and have been hurt more than BGO shareholders. I own both, far more BGO than AZS.
I don't think we will see a takeover attempt now, even though theoretically we could, since any takeout would buy the present conditions agreed with Placer.
Placer will hopefully be compelled to release drill results on the Aldebaran as they are critical to Arizona if not Bema.

We should see drill results from Quebrada too, as Bema is now free to become active again after refocussing. What is the relationship with El Callao and Consolidated Westview?

Best of luck to all in their decisions, and keep posting.
Dan Byrne
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