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Gold/Mining/Energy : Bema(Bgo) and Arizona Star
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To: CanStocks who wrote (9816)1/26/1999 1:48:00 AM
From: Terry Swift  Read Replies (2) of 10482
 
40-41 million shares fully diluted. Less than 1/3 of Bema's fully diluted shares. No debt. No contingent liabilities. No obligations to finance or pay for anything. All it needs is higher gold and copper prices (Oh, is that all?) and its off to the races. I expect it will be very sensitive to the POG and copper prices.

Without higher gold and copper prices, BGO and PDG will extend JV agreement and Aldebaran will sit on the shelf to wait for higher prices. To large a capex for PDG to green-light it at these prices but PDG won't walk away; too much money in it and too much gold and copper there. Expect an extension of the JV agreement if we don't get high enough gold and copper prices this year to green-light development of Aldebaran by early 2000 when current JV agreement expires.
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