Bema(Bgo) and Arizona Star Message Board

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Gold/Mining/Energy : Bema(Bgo) and Arizona Star

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To: grampa who wrote (9664)	8/18/1998 12:48:00 PM
From: Tom Harper	Read Replies (1) of 10482

Nice to hear a familiar voice,Grampa. El callao is a bit more convoluted.First we have to contend with Big Red who effectively still runs the company.Second , the deposit is not world-class and is situated in a country which itself is not world-class.Third,the mining cash costs are going to be higher than casale's,more in the vicinity of $160/oz. On the other hand,it'll be relatively inexpensive to build a mine,and it's a situation ( open-pit ) which is familiar to the mining managers within Bema's top tier . So all things considered, if gold gets to 350, and pre-feas goes green, and the resource is increased to 4 million oz ( just look at all the drilling and money spent since the last resource update ) and it's not difficult to see a move back to the old highs . But you have to remember there are more unknowns here than at casale. Nevertheless,your patience will probably be rewarded.

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