Bema Gold floated on AIM today...

Looks to be a good company with good results released in August. A rising gold price can only benefit this company.. $400 by end of year?? IMHO.. Please DYOR.


Bema Gold Corporation
30 September 2003

30 September 2003


Bema Gold Corporation lists on the Alternative Investment Market
of the London Stock Exchange
and becomes AIM's second largest company


Bema Gold Corporation ('the Company'), the Toronto Stock Exchange (TSE) and
American Stock Exchange (AMEX) listed Canadian mining company, announced today
that its common shares have been approved for trading on the Alternative
Investment Market (AIM). The Company's shares commenced trading today on AIM
with an opening price of 156.5p under the symbol 'BAU'. Canaccord Capital
(Europe) Limited is acting as the nominated adviser and broker to the Company.


Bema Gold is an intermediate gold producer with operating mines and development
projects in Russia, South Africa, Chile and Canada. Over the last decade Bema
has demonstrated an exceptional exploration track record and the ability to
develop its assets from the exploration phase to production. The Company's
growth strategy is to increase gold production to over 1 million ounces annually
through the advancement of existing development projects and to acquire other
exploration and development opportunities globally. Bema has a strong cash
position and enjoys exceptional leverage to increasing gold prices and excellent
liquidity.


Clive Johnson, Chief Executive Officer of Bema Gold, comments: 'Listing on AIM
is an integral part of our European Development Strategy. While Bema has
benefited from a strong European shareholder base for many years, the AIM
listing will give us better exposure to European investors. Being an
international gold producer, we look forward to being part of the UK market that
is historically renowned for financing mining projects around the world.'


Bema operates the Julietta Mine in Russia and the Petrex Mines in South Africa
and is a 50% owner of the Refugio Mine, Chile (currently on care and
maintenance). In 2003 projected production is 270,000 ounces of gold from
Julietta and Petrex. Bema is expecting to complete a ramp up at Petrex by the
fourth quarter of 2003, bringing the Company's annualized rate of production to
over 300,000 ounces of gold. Furthermore, plans are underway to recommence
production at the Refugio Mine in 2004, increasing projected annual production
to approximately 400,000 ounces of gold.


The operation of the Julietta mine has given Bema valuable experience and a
strong profile in Russia. Bema is recognised as one of the few Western
companies to have brought international financing to a Russian project and built
a successful mine working with local partners.


Bema has been able to leverage its success with precious metals projects in
Russia and, in late 2002, entered into an agreement with the government of the
Chukotka province in North East Russia to acquire up to a 75% interest in the
high grade Kupol property.


An extensive exploration drilling program has been carried out by Bema in 2003,
confirming that the Kupol property hosts a high grade world class gold and
silver deposit. Based on the results to date, Bema intends to fast track the
exploration and development of the Kupol Project.


Ends


For further information, please contact:

Clive Johnson (CEO)
Bema Gold Corporation
Tel: 001 604 306 7003


Jerry Korpan (Non Executive Director)
Bema Gold Corporation
Tel: 07768 415 361


Neil Johnson
Canaccord Capital (Europe) Limited
Tel: 020 7518 7372


Simon Robinson / Justine Howarth
Parkgreen Communications Ltd
Tel: 020 7287 5544

Another one thats way up. Its about time we had a seperate Gold thread set up.

Come on small Women.

cheers GF.

A cracker of a day yesterday and finished decently on the US market. Could move north very quickly.

cheers GF.

Well POG has held up well and fingers crossed we should be in for a good day in the morning.

cheers gf.

Minews Story



Date : October 21, 2003



Kupol Gold Project In Chukotka Is Key To The Future Of Bema Gold.


Bema Gold, a mid-tier gold producer in Canada came quietly onto AIM a couple of weeks ago. Quietly, apart from a shindig at Claridges to announce that the secondary listing had been achieved by way of introduction. No money was raised as it is well funded, but this has meant that the amount of information available to UK investors was limited. It also meant that liquidity in London was comparatively small, though the company trades huge amounts of shares daily in Toronto. The object of the listing was not money, but to raise the profile of Bema among European investors according to Clive Johnson, Bema’s chief executive.

As a first step Tim Hoare, the redoubtable boss of its London brokers Canaccord , suggested to Mr Johnson that a presentation be given at the next Minesite Mining Forum in November. An invitation had, in fact, been sent to him a couple of weeks earlier, but no answer had been received. He seemed in favour and at his suggestion another letter was sent, but with the same result. In the meantime Minews had, on advice, adopted a fall-back position in case Mr Johnson could not make it. Contact had been made with Bema’s man, or rather men, in London, so that if necessary one of them should step into the breach. Bema, after all, is establishing an office in South Kensington from which its UK/European PR/IR campaign can be operated.

Memories went back to when Henry Clive did a similar job for John Jones of Troy Resources at the 11th Minesite Mining Forum in June. Henry used to be a stockbroker and it is to his credit that Troy now has over 30 per cent of its equity in UK hands without bothering with an AIM listing. Whisper it quietly, lest it get to Australia, but he did a job as good as, if not better , than his boss. Unfortunately things did not go so smoothly with Bema. Mr Johnson, according to his London team, has to attend to family matters in November so cannot make the next Forum. He does not want either of his two representatives to take his place , so the next time it may be possible for him to appear is February.

Mr Johnson is a good promoter. No doubt about that, and a string of fundings has been completed to prove it. At Claridges he managed to give a very upbeat talk without once mentioning the Petrex acquisition in South Africa which cost his company C$67 million about a year ago. For this it purchased the Golden Reefs mines on the Witwatersrand as well as eight production shafts and a mill which produced 146,000 ounces of gold in the year to end June 2002 at a cash cost of US$194/ounce according to Canadian stockbrokers Loewen, Ondaatje, McCutcheon. Based on an independently audited 10 year mine plan, the mine is projected to produce an average of 185,000 ounces of gold per year with operating cash costs estimated at approximately US$185 per ounce. With some expansion here and there, plus mining slightly higher grade material , it is now expected to be producing at a rate of 200,000 ounces/annum by the end of this year.

Then was then and now is now and there seems little doubt that the strength of the rand in the intervening period has injected a bit of pain into the proceedings, currency put options notwithstanding.. Nevertheless the additional production means that Bema has been able to forecast 300,000 ozs for next year from South Africa and the Julietta gold mine in Russia at an average price of US$200/oz. In addition to this there is the Refugio mine in Chile which is jointly owned with Kinross. This may be restarted towards the end of 2004 and it would add a further 115,000 ounces to Bema’s annual production, but at a high cost. The same goes for the Cerro Casale deposit in Chile where Bema has a 24 per cent interest. If Placer Dome decides to go ahead with it, more high cost ounces will be added to Bema’s production portfolio.

This is the crux of the matter. Bema has to decide if it wants to be a high cost, or a low cost producer which is where the Kupol gold project comes into play. A 75 per cent interest was acquired shortly after the South African deal and it is up in Chukotka near Julietta. Kupol hosts a large epithermal gold and silver vein system that is up to 30 metres wide with significant values over a true width of up to 15 metres and Canaccord believes that it has all the earmarks of a world class deposit. The latest drilling results confirmed the continuing high grade gold mineralization over 3.1 kilometres of drilled strike length and to a depth of at least 300 metres. Grades as high as 35.56 g/t gold and 865.51 g/t silver over 9.6 metres were encountered.

Opinion is hardening that this may be a 10 million ounce deposit. More will be known in January when an initial resource estimate is published. It would then be possible to move to pre-feasibility in short order and on to a bankable feasibility study within 12 months. Obviously it will be a low cost open pit operation and Clive Johnson has said that that it could be in production by 2007 at a rate of between 700,000 and 1 million ozs of gold a year. This would mean mining around 900,000 tonnes/annum of the high grade ore in the North Zone and Big Bend regions and the capital cost of developing the mine would be around US$200 million. The amazing thing is that net of silver credits the gold would be produced at a cost of virtually zero. It is difficult to find a simpler and better story than that, so more is the pity that Mr Johnson chose not to let his London team explain it to the Minesite audience. It would have also given them a chance to introduce themselves.ENDS.

Looks like a very exciting play on Gold to me and Im going to add whenever funds become available.

gf.

Nov 17 - info just given today - Director sales + shares granted to Directors as
a result of the exercise.rgds aj

Share transaction

Down day so far for this one ajren. Think the strength of the dollar is taking its effect on most gold shares.

cheers GF.

NEWS

Director sale

45,000 @ 5.30 aj

Hi

Is there a GOLD thread open, or is this it?

I invested in Golden Prospect (epic GOL) (at 21p) because their business is to buy shares in other Gold companies, so the overall risk is greatly reduced if one company's share price drops.

Take a look at their portfolio : http://www.goldenprospectplc.com/strategic

Also, take a look at the recent news about them : http://www.moneyam.com/action/quote/showQuote?epic=GOL

www.t1ps.com tipped GOL at 5p (they're now 31.50) and they still believe the total value of GOL's share portfolio is NOT reflected in the current share price.

I'd appreciate any comments/thoughts/additional info that I've not been privy to?

cheers

P

PW Evil K has a price target of 40p on it and that not including its unlisted asetts. He argues the higher POG goes the more the NAV increases.

Bema bombing along this afternoon already up 4p.

cheers GF.

Hi pthwaite,
You are right i.e.there is a GOLD thread which I opened for general discussion
- not specific shares - about gold e.g.What effect terrorism will have on
gold.............etc.gf has a thread on gold prices which I update daily-
sometimes twice daily.I feel my GOLD thread is very useful for everyone
interested in gold companies because it gives an overall view of the
world situation i.e.it is a vital part of each gold companies outlook.
Obviously,you can also open a thread on a specific gold share you are interested
in.Posters might think everything is very confusing.However,it is not.

gf thread covers gold prices

ajren-me -covers the top/latest stories on GOLD

gf covers most of the specific threads e.g yamana

rgds aj

Bema up in the US but down here. They will allign the share in the morning.

cheers GF.

Hi gf.Why is it up/down ? rgds aj

Up 2p again. Dont forget the price is brought into line with the price in the US, so even no trades showing the price moves up or down according to how it had done in the US.

cheers GF.

Getting a fair old tonking this afternoon as POG drops. Analysts are saying though over in the US they expect a big surge on POG very soon to new highs. So as this one follows POG very closely Im not worrying. No problems. Cool calm and collected I think. Will just pop for a quick pint or two to steady the old nerves.

cheers GF.

Hi gf.cbsmarketwatch said a bit about it today rgds aj

Ended up on the day by 3p.

GF.

NEWS
Edwin Gols - Director sold 50,000 shares @ 5.31 dollars.rgds aj

Some excelent news through late today....................

Bema Gold Corporation
08 December 2003


News Release

Bema and Kinross Plan to Recommence Gold Mining at Refugio

Vancouver, British Columbia, December 4, 2003... Bema Gold Corporation (TSX,
AMEX-BGO, AIM-BAU) ('Bema') and Kinross Gold Corporation (TSX-K; NYSE-KGC)
('Kinross') are pleased to announce that their respective boards of directors
have approved the recommencement of gold operations at the Refugio heap leach
mine located near Copiapo, Chile.

Compania Minera Maricunga ('CMM') owns the Refugio mine and is owned 50% by Bema
and 50% by Kinross. The Refugio mine had been placed on care and maintenance in
May 2001 due to low gold prices and has produced declining amounts of gold from
residual leaching of existing heaps since that time. During the past year, a
56,000 metre drill program was successful in expanding reserves to justify a
greater than 25% expansion of daily throughput compared to historic production
levels. Initially the Verde pits are scheduled to produce 40,000 tonnes of ore
per day which will be crushed and placed on the leach pads. Subsequently the new
Pancho pit, expected to be mined at 35,000 tonnes of ore per day, will extend
the mine-life to approximately 10 years at an assumed gold price $350 per ounce.
Life-of-mine annual gold production is expected to range from 230,000 to 260,000
ounces on a 100% basis at total cash costs averaging approximately $225 per
ounce.

Production is expected to recommence late in the fourth quarter of 2004. Initial
capital costs on a 100% basis for the expanded project are estimated at
approximately $71 million to repair and replace critical components of the
existing infrastructure, increase reliability, improve serviceability and
provide a safe and efficient work environment. In addition, a new mining fleet
will be purchased and is anticipated to be financed through a capital lease of
approximately $30 million. Major capital items include plant modifications and
upgrades, a modest pre-stripping program and 110-kilometre power line, connected
to the Chilean grid, which will replace the previous diesel generated power.
Bema is currently evaluating various financing options including project debt
and convertible debentures for its 50% of capital requirements.

The combination of improved gold prices and expanded reserves have resulted in
robust economics for the expanded project. At the base case gold price of $350
per ounce, the proven and probable reserves (100% basis) are estimated at
124,054,000 tonnes at a grade of 0.86 grams of gold per tonne for 3,433,000
ounces of gold. The base case project economics indicate a pre-tax internal rate
of return ('IRR') of almost 22% and a payback of approximately 3.8 years. The
sensitivity analysis of the project economics yields an IRR of approximately 34%
and a payback of 2.6 years at the current gold price of $400 per ounce.

The Qualified Persons under National Mining Instrument 43-101 are W. Hanson,
P.Geo and R. Cooper, P.Eng, both of Kinross. For further information on Bema
please email investor@bemagold.com or visit our web site at www.bema.com. To
speak to a representative of the Company please contact:

Ian MacLean Derek Iwanaka
Manager, Investor Relations Investor Relations
(604) 681-8371 (604) 681-8371 ENDS.

In other words because POG is on the rise the mine is now profitable again.

cheers GF.

looks very good. rgds aj