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

To: Brian MacDonald who wrote (499)	2/15/2000 4:47:00 AM
From: Gabe Heti	Read Replies (1) \| Respond to of 922

Does this mean that under an Ashanti bankruptcy Birim can forget about royalty payments on the Mampon property sold to Ashanti?

To: Brian MacDonald who wrote (499)	2/15/2000 8:55:00 AM
From: russwinter	Read Replies (1) \| Respond to of 922

It appears because Obusai is a leasehold rather that a tenured and titled property, that a receivership and transfer would occur fairly quickly. That's good in that doesn't freeze the asset forever. The question Birim would need to look at is how would their contract be viewed in the property transfer(s). Gov. of Ghana would probably find a new lease holder, and most likely the Birim contract would go to them. I guess it depends how the lawyers wrote up the deal. Perhaps there is a clause that would give BGI the right to approve any new entity. My guess is probably not since they received 1.5 million up front. The question would be the rest of the payment while this was going on. Is there a deadline? And does BGI have an escape clause if there is a significant delay?