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Gold/Mining/Energy : Birim Goldfields Inc. (BGI-T) -- Ignore unavailable to you. Want to Upgrade?

To: Brian MacDonald who wrote (297)	9/27/1999 5:59:00 PM
From: Winzer	Respond to of 922

<<An Analyst was just on CNBC and she mentioned that gold has an effective 'floor' of at least $270 and it could trade as high as $390 with the 'shortfall' of gold available for the market.>> Let the rally begin! And like you previously indicated, one of the primary contestants for BGI ground is still GSR. Winzer

To: Brian MacDonald who wrote (297)	9/27/1999 9:57:00 PM
From: Brian MacDonald	Read Replies (2) \| Respond to of 922

Following up on my earlier post: On Sept 24, 1999, John Kaiser notes (paraphrased): - ' Birim has accepted a royalty deal from Ashanti on part of the Dunkwa concession in Ghana that will result in the injection of at least US 4-5 million into Birim's treasury over the next 6 months'; - 'On assumption that the deal will close as expected in 2-3 weeks, I rate Birim a top priority bottom-fish buy'; - 'If the study confirms that Mampon contains 175,000 ounces in oxide ore grading 5.0 g/t gold and recoverable through open pit mining, birim would receive $US 4.75 million. Combined with the other payments this would result in a cash injection of $US 6,250,000 or about $C 9,500,000 or $0.35/share based on 27 million shares fully diluted'; - 'the same royalty scheme would cover any additional oxide zones discovered on the 40 sq. km. portion Ashanti has optioned out of the 230 sq. km. Dunkwa concession'; - 'the deal is a lucrative one for Ashanti because it limits the degree that Birim can participate in a rising gold price. Birim will receive $US 0.20 extra for every $1 gold trades above $US 300.00.' - management has a three pronged strategy: 1. 'drill the untested geochemical anomalies generated by 24,000 samples battle Mountain took on the Dunkwa concession'; 2. 'resume aggressive exploration on the Bui concession ... a project with company making potential'; 3. 'take a more active role in Ghana ... taking over prospects that would shine in a new market cycle that have been left behind by Canadian juniors who fled the country'. 'By early 2000 a speculation cycle driven by the three pronged strategy should be underway.' Note: this is not a verbatim transcript. Rather I have paraphrased certain portions of the release. I trust that in doing so, I have not altered the essence of the message. Bottom line, he is very supportive of the deal. Now we need to wait and see if the market agrees. Brian