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Gold/Mining/Energy : Gold and Silver Mining Stocks -- Ignore unavailable to you. Want to Upgrade?

To: Claude Cormier who wrote (878)	4/27/2001 12:41:53 PM
From: goldsheet	Respond to of 4051

> Never liked Golden Star At one time they were completey dependent on Cambior/Omai and seemed to have spent all of the profits on exploration projects (in South America) that did work out. Since they lost their AMEX listing, they don't seem to have the same visibilty/marketability. It is a shame because they now seem to be a viable small producer in Ghana. "gold producer with a 70% equity interest in the Bogoso gold mine in Ghana and a 30% equity interest in the Omai gold mine in Guyana and a 50% interest in the Gross Rosebel gold project in Suriname. Bogoso is forecast to produce 114,000 ounces in 2000 at cash costs of under $200 per ounce. " gsr.com

To: Claude Cormier who wrote (878)	4/27/2001 6:11:03 PM
From: baystock	Read Replies (1) \| Respond to of 4051

<DROOY is one that make me real nervous...> For $135 million market cap you are getting 1.1 million oz of yearly production. Apparently they have enough idle milling capacity to increase production by 85% if gold prices were to rise substantially in a sustained manner. Now that is leverage. This post by Heinz makes the case for DROOY better than I can: Message 15725411 <Harmony.. is OK... but not if gold moves to new lows and stay there> Yes Harmony is safer than DROOY, but commensurately less leveraged. I own three times as much Harmony as DROOY. I don't think gold will move to new lows and stay there, but if it did Harmony could outlast most North American producers because the South African rand would depreciate enough to keep them in business. <Never liked Golden Star ..as I always have perceived it as over promoted..> True, I agree. I only have a tiny amount of it. But if they succeed in their efforts to acquire the Prestea property in Ghana to provide more reserves for their Bogoso mine, I think its prospects will improve significantly, since Bogoso is running out of mineable reserves. <I should revisit Bema > Yes it might be worth your while. I like this one a lot. Their market cap is U.S. $30 million and they have the Julietta gold/silver mine in Russia financed and expected to come into production towards the end of this year. Their share of the production is 100,000 oz of gold equivalent per year at a cash cost of $100/oz. They have two other marginal properties in Chile with millions of oz. of gold reserves each, one of which is a mine with another 100,000 oz per year to Bema's account. The leverage to rising gold prices is much higher for Bema than IamGold or Glamis. I would be interested in anything negative you can find on Bema...to help keep my enthusiasm in check.