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Gold/Mining/Energy : Bema(Bgo) and Arizona Star
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To: Sans Souci who wrote (8623)12/6/1997 10:44:00 AM
From: Ken Benes  Read Replies (2) of 10482
 
Paul:

Not a wise move. First of all it is difficult to know whether gold has in fact found its bottom, second, the distribution of bgo has not been completed. It has reached a price in which people are less likely to sell. Should the gold market improve and BGO enjoy the benefits, the remainder of the shares looking to be sold will come to market. With over 100 million shares outstanding this exploration play has a lot more to overcome than most. You could make the argument, that it is a producer and owns a substantial part of a world class deposit. Unfortunately, this is discounted by the low price of gold, the problems with the Refugio, and management that has literally played emperor and served up its subsidiary, AZS, to the lions.
You can make a lot of money botton feeding, but you have to be careful that you do not set your hooks into an anchor.

Ken
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