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Gold/Mining/Energy : Bema(Bgo) and Arizona Star -- Ignore unavailable to you. Want to Upgrade?

To: Ron Pitts who wrote (8038)	10/27/1997 11:52:00 AM
From: Rob Davis	Respond to of 10482

Hi Ron, There is one other thing that hasn't been mentioned which is probably worth mentioning. It has been mentioned on this thread that Bema is sitting on quite a few drill results from various projects. Someone speculated that these drill results could be Bema's "ace in the hole" in case of a hostile takeover attempt. With the agreement reached today, I don't think a hostile takeover attempt is a very likely occurance. In this case I could foresee a flood (hopefully) of drill results in the coming weeks. (Of course, they may have been sitting on the drill results 'cause they weren't so good, but I'm trying to think positively here). Cheers, Rob

To: Ron Pitts who wrote (8038)	10/27/1997 12:26:00 PM
From: virginijus poshkus	Read Replies (2) \| Respond to of 10482

ron, good to hear from the northern kingdom. what we are witnessing is a major catastroph precipitated by the cb's who are selling gold. I say this, if gold is worth selling, what is worth keeping? nothing. they have a 1.75 interest rate in japan for 1 year and .5% on short term rates, this is deflation. their economy is in shambles. if it was not for the us they would be in a major depression. the world will find out that the stupid bankers who manufacture money from their hot air and lend it for projects the world over without assessing worldwide demand and the supply will be collapsing like a house of cards from their participation in world wide loan packages. ask citibank what they will write off? watch the banks in the far east sink faster than an arian rocket. so, by being able to print money without gold backup gives a country a license to fund uneconomic projects the world over. not to be political but the nafta and the wto and the freetraders will reap what they sow. and that is a major depression coming soon to a neighborhood near you as most companies in the US will be competing with companies abroad selling below cost because of currency translation. alan greasepan and robert rubin are shitting in their boots. secondly, US companies are blackmailed in exporting technology and they are to blame too. well, you all get the picture. vargas vargas

To: Ron Pitts who wrote (8038)	10/27/1997 7:59:00 PM
From: Terry Swift	Read Replies (1) \| Respond to of 10482

You nailed it, Ron. Bema got a better deal than I expected. They got $98 million of their capital paid by PDG ($200 million X Bema's 49%) plus $10 million cash. Casale, 3 Amigos, Eva, and probably a few other drill targets will either be mines or part of the huge mine complex and infrastructure that will become the Cerro Casale mine.... and Bema will not have to take on a nickel of debt for any of it to happen. Placer must spend $15 million to explore other sites (which they want to do anyway) and $25 million for feasibility study. This frees up Bema to drill Quebrada, Lo Increible, and put in mines at each as well as Yarnell. Also, expansion of Refugio and mine at Pancho are in their 4 year plan. Placer knows exactly what they've got. They put a 2 year deadline on feasibility study so look for them to drill the hell of Aldebaran before they start their feasibility study. To the extent they can make other sites part of a huge CC mine complex, that's what they'll do. It was a bloodbath today in all the golds but, long term, Bema is on its way to being a major producer. I expect Bema will wait a suitable period of time and then take out Star and El Callao and bring them under the Bema corporate structure. I knew Placer had to be in this to end and thank God we're JV'd with them rather than CYM. Terry