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Gold/Mining/Energy : Bema(Bgo) and Arizona Star
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To: George Mousis who wrote (529)10/25/1996 10:13:00 PM
From: Richard Seekins   of 10482
 
Ya George..you caught me. Any highly paid respected professional geologist who works in Nesbitt Burns's research department will contact the underwriters before determining the future worth of the stock that they are about to state their opinions on. It is one of the hazards of the game. In this case, Mr. Mallilieu found out that Bema owns part of AZS, and realizing that NB partially underwrote the Bema deal, he immediately altered his opinion and fixed the valuation model to inaccurately reflect what the discovery really was all about. To deflect suspicions that he was not telling everthing..he even cautioned the organization on the conference call that 19 holes did not prove up the deposit. Then he went so far as to say that there were many other factors that could adversly affect the price of Arizona Star and Bema. Then he released the news that if they do have what they say they have, the stock could rise to $15.00. And since Bema owns part of AZS, and Nesbitt Burns underwrote them, he laid the big bullshit story out...that Bema could rise to $14.00!!
So help me..since we can't trust these guys anymore..I guess I will switch to Richardson Greenshields. Those guys are recommending purchase of BGO and at least they never financed them.
One thing I will say though...these bullshit stories from unscrupulous brokerage firms have also taught me how to bullshit.
Regards......
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