ECM.VSE - El Callao Mining. Message Board

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Gold/Mining/Energy : ECM.VSE - El Callao Mining.

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To: yosi s who wrote (1113)	1/30/1998 8:58:00 PM
From: John Soileau	Read Replies (1) of 1253

Tom, I believe Bema is keeping the shares of ECM they acquire (at a big premium) as payment for advanced exploration expenses. The reason I say this is the Bema-owned percentage of ECM's outstanding shares keeps going up. A few more rounds and they might have a majority of the shares. As yosi pointed out, compare this to other juniors (I have some) with incredible deposits but no cash-ola. The deposit stays in the ground, the shareholders suffer. ECM at least has a stream of not-so-dilutional bucks. The "deemed" prices we have seen in the stock payments to Bema I think indicate the range of the ultimate buyout price to us if/when the consolidation happens. How's that mountain view of yours? White these days? John

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