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

To: virginijus poshkus who wrote (8146)	10/29/1997 5:33:00 PM
From: the Chief	Respond to of 10482

Actually and unfortunately yes!!! By demanding the Bankable feasability study be done by the perspective JV, he allowed the JV then to dictate the ultimate of "outs". ie. If I don't like the outcome of the BFS, then I can back-out!!! The back-out may even allow the JV to backout before commencing a BFS, just by saying he's decided against the project. I sincerely hope we all misunderstand this agreement, but "everything" we have been exposed to and seen published states "option" not "commitment". Terry stated in post 8071 "You nailed it, Ron. Bema got a better deal than I expected". He is happy with the deal, in fact a better deal than he expected, albeit "the circumstances". What the rest of the Bema/AZS holders have to ask is, is it better than what they expected, albeit "the circumstances"? the Chief