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

To: IngotWeTrust who wrote (8147)	10/29/1997 7:31:00 PM
From: Ken Benes	Read Replies (2) \| Respond to of 10482

ole 49r: I always knew Clive faced a problem. Why would anyone purchase AZS, when they could purchase BGO and get the whole ball of wax. A sale of BGO would have been in the 7 dollar plus range, not great, but an opportunity for most to get out of the stocks either with a small profit or even. Unfortunately, as has been discussed on this board many times, Clive Johnson's main interest was never a fair return for the shareholder. Rather, his intention from day one, was to retain a big toy for Clive. During the summer, the writing was on the wall, it was going to be very difficult for BGO to survive. From that moment on, Clive's main pursuit was how to retain his title. This week we found out. He was willing to give his main asset away in order to retain his title. With the specter of no returns for two years, Clive could have easily made no deal and wait. He did not take this course of action because he knew BGO was low on cash, had a broken producing mine, and the stock would continue to fall in price. At some point, the company would have been taken over for a super bargain price. He cut this inevitability short by giving away the prize with one stipulation, if I let you have the CC can I still be called Prez. The additional cash he is going to get in this deal means little to BGO, it is not going to fix the Refugio, and it may be used to amalgamate several two million ounce, (held by satellite companies), deposits into one large company. It is not going to build the mines required to boost BGO's share of production over one million ounces, nor is it going to make BGO's net reserves greater than 20 million ounces. What is left, a company with 15 to 20 million ounces, with little cash flow. PDG as the operator of the CC will make sure of that, and the low price of gold will eat into any possible profits from Refugio. BGO becomes a company with under 20 million ounces of gold, little cash flow, and a ton of shares outstanding. Make no mistake, BGO's float is going to go up big time, as it takes over Star, El Callao, and others, and tries to raise the money to build mines. When deciding what to do with your stock, the options are hold and wait for maybe a 6.00 price should gold rebound in several years, or hold until BGO retreats to the 2.50 range. REFUSE TO GO II IS HERE!. Clive Johnson does not even realize, that there are going to be so many shares outstanding. He cannot see beyond the lucite plaque on his desk that says CEO. Ken