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

To: russwinter who wrote (535)	3/16/2000 11:50:00 PM
From: Brian MacDonald	Read Replies (1) \| Respond to of 922

Russ, You've probably already heard that J. Kaiser put out another advisory re: BGI in his, 'Kaiser Bottom-Fish Tracker', late Wed, 15 Mar., 2000 . It's pretty bullish on BGI and this report may have helped to contribute to today's buying. Here are some excepts from the report that I've paraphrased: - 'market worried about the future of Ashanti thanks to its hedging problem, but this concern is misplaced. ... Ashanti will not go out of business.' - 'Mampon deal cost is a fraction of Ashanti's bigger financial problem, and far outweighed by the benefits of mining Mampon's oxide ore.' - 'Birim management now believes that Ashanti plans to truck the high grade oxide ore north to its Obuasi Mine where a milling facility will achieve better recoveries.' -'Ashanti moving quickly to complete the feasibility study that will form the basis for another cash injection for as high as US $5 million by next September.' -'Ashanti plans close spaced drilling on nearby zones not included in the current resource estimate which could add to the royalty payments.' -'Drilling also planned on other targets within the land packagethat Battle Mountain had barely touched.' - 'Birim itself has completed a 17 hole 1,075 metre drill program on the Opon target at the southern end of the 90% owned portion of the Dunkwa concession that was not included in the Ashanti purchase.' -'Birim has re-interpreted the Opon zone in the context of flat-lying structures that are cut by the steeply dipping shears typical of the Birimian formation. Past drilling had yielded discontinuous results. 16 of the new shallow holes intersected gold mineralization in oxides grading as high as 14.24 g/t but generally ranging 1-3 g/t.' -'Birim feels that it now has a handle on the geometry of the Opon zone and is optimistic that it can develop an oxide resource suitable for Golden Star's ore-starved Bogosu facility 2 km to the south. A 30 hole 1,800 metre followup drill program designed to test for strike extensions is scheduled to be underway by April.' -'If Birim can develop a gold resource of a couple hundred thousand ounces in oxides, it will be in a strong position to strike a similar deal with Golden Star as it did with Ashanti on the Mampon deposit.' - 'Birim will also check out what appears to be a parallel structure to the east of the Opon zone.' -'biggest upside lies with the Bui concession in northwestern Ghana where Birim controls 6,520 sq km of an untouched greenstone belt that may have the same gold potential as the Ashanti belt.' -' During past year, Birim has shifted its focus to the Birimian rocks to the east of the steeply dipping conglomerate horizon where it has conducted a regional soil sampling program that has outlined several target areas.' -'most important target is the 10 km Tombe-Parabu anomaly, over which Vic King has conducted a detailed sampling program using a proprietary system to analyze the results.' -'King very optimistic that a significant gold system is present.' -'Birim's goal this year: prove that significant Ashanti style gold mineralization exists in the Birimian rocks on the eastern half of the belt', -'Birim has spent US $2.3 million of its $3.5 million commitment, and received an extension to complete the earn-in from Newmont by September 30, 2001.' -'Birim is set to begin a brand new spec cycle.' Note: J.K. owns shares of Birim.