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

To: Feline who wrote (8666)	12/11/1997 8:56:00 PM
From: Bill Grant	Read Replies (2) \| Respond to of 10482

Agree with you on the US$. Bought HM out-of-the money Jul98 calls instead of trying to dredge here (however, still holding some BGO). Have noted your points (all good) and even like martinis. Bill

To: Feline who wrote (8666)	12/12/1997 2:06:00 AM
From: Terry Swift	Read Replies (3) \| Respond to of 10482

I believe Bema would love to acquire its subsidiaries down here but in this market climate the wailing and gnashing of teeth (and potential lawsuits) from the AZS holders who were planning on C$20-25 for their shares would raise so much hell Bema won't attempt it until prices improve. I agree with you that AZS will move to a premium over Bema (its far more undervalued) and Bema will have to pay up to acquire the 67% they don't own but they will have much happier stockholders than if they took them over down here. Ditto ECM.