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

To: Bat Man who wrote (586)	7/10/2000 6:10:27 PM
From: jacq	Respond to of 922

Nope!

To: Bat Man who wrote (586)	7/11/2000 12:06:00 AM
From: russwinter	Respond to of 922

This play is far from over, in fact is still quite promising. But in this market you've got to come up with spectacular not good numbers. I think the best bet for BGI is to sell the company (at a premium) to a major or mid tier outfit looking for a significant quality entree into Ghana. Not so sure this step by step drilling program (unless they really get lucky) makes sense anymore for the shareholders. Prospect development in this neck of the woods takes time and money which only larger outfits have.

To: Bat Man who wrote (586)	7/12/2000 11:05:49 AM
From: russwinter	Read Replies (2) \| Respond to of 922

Looks like they are finding better grades at the 40 meter depth (hole 55: 26-30m @ 6.33g, hole 61: 40-42m @ 4.29g, hole 67:44-46m @ 5.29g and hole 74: 46-50m @ 4.50g. The fairly consistent 2g grades near surface, would at least pay for the stripping costs of getting down there? I'm getting the sense that there might be a large zone of 2 g material, with occasional sweet spots, but how much will the drilling cost to prove out? Working capital is now about US 1 million. What's your read?