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

To: lbs1989 who wrote (723)	1/31/2002 1:14:38 PM
From: jacq	Read Replies (2) \| Respond to of 922

Everyone makes their own personal decisions regarding purchasing stocks, but this bit of news or rather the last two pieces make this move upward more of a business deal than speculation. It looks like the rubber is finally going to meet the road, or in this case backhoe meets the ore. When you couple this news with the background interest in a takeover of Ashanti I cant help thinking that this is a screaming buy at $0.27. We have seen this stock regularly cycle from .20 to .30 so .27 is well within a trading range. I would be buying some more at $0.27 right now but I am broke from all the other stocks I have bought. Now if someone would just sell me some at .225 I would go away happy! Very Happy. :-}}

To: lbs1989 who wrote (723)	2/12/2002 6:37:07 AM
From: russwinter	Read Replies (1) \| Respond to of 922

COMMODITIES & AGRICULTURE: Ghana reviews mining laws Financial Times; Feb 12, 2002 By WILLIAM WALLIS Ghana is concluding a major review of its mining laws in a bid to revive investment and protect its biggest export earner, gold. The reforms, which Ghanaian officials are expected to flag at a mining conference in South Africa today, are set to go before parliament shortly. Mining industry officials in Ghana, Africa's second-largest gold producer after South Africa, have been concerned for several years about declining investment in the face of low gold prices and mounting competition from other African countries with more liberal laws and plenty of ore in the ground. To address this, President John Kufuor initiated the review shortly after winning elections a year ago. Gold production has risen dramatically in Ghana over the past decade but it dipped last year to 2.1m ounces,according to provisional figures, from 2.45m in 2000. Applications for new exploration licences have also declined, according to Ghana's Minerals Commission, from an annual average of 80 a year in the mid-1990s to 52 in 2000 and even fewer last year, although opportunities for fresh exploration and expansion around existing mines are there. A sustained fall in world gold prices has made it more difficult for companies to finance exploration, but this is only part of the problem. In 1986 when the government collaborated with mining companies to create an attractive legislative and fiscal environment for investment, Ghana was a pioneer. Up to Dollars 2bn of mining money flowed in. However, countries such as Tanzania, Guinea and Mali, which followed Ghana's lead, have modernised their own mining codes and now have a competitive edge. "Any investment in gold at the moment is going where it's competitive. Ghana isn't any more," said Sam Jonah, managing director of Ghana's flagship gold miner, Ashanti Goldfields. Unless this changes, production of the country's top export earner, which brought in Dollars 756m in 2000, is likely to slide. "The mining code has three sections: legal, fiscal and environmental. We think all three areas need improvement," said Joyce Wereko-Brobby of Ghana's chamber of mines. Among laws under scrutiny is one that allows the government to hold a golden share in mining operations, giving it power to intervene in corporate decisions. Another allows the government to claim the assets of mining operations that fail. Despite concern over Ghana's long-term revenue profile, the proposed changes are unlikely to have an easy ride in parliament. They come at a time of national debate over the consequences of more liberal trade and investment policies brought in during years of World Bank sponsored reforms. A lobby group believes the Ghanaian public has been excluded from the profits of the mining boom and inadequately compensated for environmental damage. And recent job losses as companies sought to bring gold production costs below Dollars 200 an ounce have added heat to the debate. Copyright: The Financial Times Limited 1995-2002