Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: burner who wrote (8223)	11/1/1997 9:22:00 PM
From: frenchy	Respond to of 10482

to: all topic: Indonesia closes 16 banks, currency collapse cnn.com

To: burner who wrote (8223)	11/2/1997 12:07:00 AM
From: Terry Swift	Respond to of 10482

Dan: I could not agree with you more. I really think the problem with most posters on this thread is major league disappointment. They were looking to get rich quick (as I was) and its not going to happen. I keep hoping more realists will show up here and think this thing through rather than just continuing to trash the stock. The problem is the POG and the bear market we're in. Management has no control over those things. I also agree with you regarding Star. This scenario we're in is exactly why I wanted to see Bema merge with Star months ago. Star still owns 5 million ozs of minable gold reserves, a couple billion lbs of copper, and 2 million ozs of the gold outside the current mine model. That isn't exactly chopped liver; and with Placer involved I expect more will be found on the Aldebaran property. As for a merger in the near future, I wouldn't bet on it. In an earlier post today I said I thought Bema would merge with Star at some point but after giving it more thought, I don't think it will happen any time soon, if at all. The reason is the threat of a lawsuit. Any lawsuit filed by Star stockholders over the Placer deal will kill any thoughts Bema may have had about that course of action. You've got Star stockholders who think they should have gotten C$15-20 (or God knows what) for their stock so they're trying to fund a class action lawsuit and if anyone thinks Bema is gonna attempt a merger with that hanging over them, forget it. If you were Bema, would you attempt to merge with Star knowing that there is no way you could avoid a lawsuit as a result of the merger unless you paid 5-6 times what its currently selling for. I said months ago a merger with Bema is the best thing that could happen to Star and I still believe that, but when you have Star stockholders filing a lawsuit over the Placer deal, forget it, it will never happen. Bema would be damned no matter what they did in an attempted merger with Star. If they gave the Star holders what they wanted, the Bema stockholders would scream like hell and they could face a lawsuit from them, and if they merge with Star for anything less than C$15, they'll face the same thing from Star stockholders. Bema can't win. If I were them, I wouldn't touch Star with a 10 foot pole in this market climate; not because its not a valuable property but because they could never satisfy both sides. Terry