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

To: The Barracuda™ who wrote (741)3/27/2002 1:27:15 PM
From: russwinter  Respond to of 922
 
The owner of the convert is Ashanti, who is also a shareholder. I very seriously doubt if they are in engaged in an arbitrage.

If anything is holding BGI down it is the "Ghana time" slowness of their initial Mampon royalty payment from ASL. I now also believe Simoneau has been remiss in realizing shareholder value. IMO this company should be sold at a nice premium to the highest bidder: Golden Star, Ashanti, perhaps Repadre. Even ABX or AU might use BGI as a toehold in Ghana.



To: The Barracuda™ who wrote (741)3/27/2002 2:09:30 PM
From: John Dally  Read Replies (1) | Respond to of 922
 
With BGI at .30, a short position would suffer a 50% loss before the convertibles would cover the short position at .45.


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