Stockchase Opinions

Bill Belovay Bema Gold BGO-T BUY May 11, 2006

Expects it will be merged with Kinross Gold (K-T). Has some very good assets and will be a good big company.
$5.330

Stock price when the opinion was issued

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COMMENT
Newspaper article suggested a possible takeover by Kinross (K-T) which would make synergy sense. Wouldn't be surprised if it happened. A middle tier type company. Some good assets, but analysts don't like it because of the cost and location. Probably one of the 3/4 takeover candidates in this size.
DON'T BUY
Have a phenomenal discovery in Russia. He understands too little about Russian politics and their legal system to feel comfortable.
TRADE
The biggest upside is their Russian project which is a high-grade one. Seems to be able to navigate through the system successfully. Also have a good project in Chile which is very capital intensive.
BUY
Interesting exploration play. Have some big production coming on. Valuation is good.
HOLD
Could be a takeover target.
DON'T BUY
He is cautious about this stock and believes there is a Russian risk here. There is cause for concern.
HOLD
Being acquired by Kinross (K-T) (See his Top Pick). Expect the stock will go higher.
HOLD
Being acquired by Kinross (K-T).
BUY
Kinross (K-T) has made a friendly takeover offer which would be a good marriage.
HOLD
Being acquired by Kinross (K-T). If you own, he would take the shares of Kinross rather than cash.