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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: long-gone who wrote (71118)	6/4/2001 11:05:35 PM
From: Kaena™	Read Replies (2) \| Respond to of 116756

Long-gone, that post you found of ken's pumping Bema when the stock was near its all time high helps to explain why the man is so bent over gold. This guy not only got greedy, but he paid for it through the nose.

To: long-gone who wrote (71118)	6/5/2001 12:41:54 AM
From: Ken Benes	Read Replies (3) \| Respond to of 116756

I purchased bgo at 1.00 and had a very handsome profit. Shortly after that message was posted, I posted the following message: The big question, where do we go from here. Obviously, BGO is going to release the scoping report that has been so widely anticipated, but what effect if any is this going to have on the market. My main concern, if the price of BGO does get over 6 bucks and closer to the 7.5 price, no mining company in their right mind is going to make an offer for AZS. For BGO to negotiate a sale of AZS it will have to be for at least 40 dollars an ounce for the gold in the ground. This will cost the company wishing to purchase AZS approximately 700 million dollars. With the current price of BGO under 6 dollars, one of the companies performing the DD on the CC may make a gratuitous offer of 7.00 for BGO. The pursuing company would not only get 65% of the CC, they would get the Refugio, and all the other blue sky potential of BGO and with Bema's credibility on the skids, it may be difficult for Bema to fight off a takeover attempt. Fortunately, should BGO get taken out in the 7 to 10 range, we will all make money, not as much as we should have but it is still money. For myself, I would gladly give up my shares at BGO's old high and move onto something else. As I have said many times, when I lose confidence in a company, it is time to move on. To hold out for more may take an awfully long time and with the fundamentals of the gold market becoming more and more dubious, that is a poor risk/reward scenario. (Written in 1997 and the fundamentals have not improved much since then) Yes, I gave back some profit, but it is hard to lose buying in at 1.00. I also was a big fan of bre x and rode it up to 225.00 from 6.00 when I sold my entire position after it became clear to me that something was wrong. As for the gold market, we have the same situation, limited upside in a down market. Unfortunately, gold bugs always believe their pot of gold is just around the corner. That is what makes it so interesting to offer an opposing view. Ken