Dear Fellow BSG ShareholdersSome are pinning their hopes on that...

Dear Fellow BSG Shareholders

Some are pinning their hopes on that Norm has something up his sleeve in terms of this marriage. He might be right (I highly doubt it) however I will give him the benefit of the doubt if he quickly spell this out.

CDE's shareprice already tells me after 1 day that this merger is a dead duck.

Let's look at Coeur's future - taken from it's website:

"San Bartolome - Leading Coeur's Next Generation in Silver

Leading Coeur's new growth in silver is San Bartolome, the largest new primary silver mine to be built in the Americas in decades. With construction underway, this major Bolivian silver mine is scheduled for annualized production of more than 8 million ounces of silver"..

Let me stress this is in Bolivia!!

Now ask yourself whether you are a gambler or an investor.

Normally when investing in juniors you do take a risk otherwise no big rewards. But I do adhere to a few rules. Besides management & quality of inferred resource the 3rd key rule is sovereign risk!!!

Out of all of you, please tell me whether you can sleep easy at night knowing if your assets may be taken from you any minute of the day.

I've already alerted on this forum the Fraser Institute and their analysis that Bolivia is one the 3 worst countries to mine in re: political risk. Morales is made of the same cloth as Hugo Chaves.

Just in this week you've been give 2 gentle reminders:

1)
2.05.07

"Yesterday, Hugo Chavez reclaimed Venezuela’s last remaining privately run oil fields … cementing his knucklehead reputation.

Oh, what a difference a decade makes. Back in 1990, when oil was $10-15 a barrel, Mr. Chavez was too busy plotting a coup to stop big league oil companies like Exxon Mobil, ConocoPhillips, Chevron and BP from harvesting the tricky Orinoco Belt. But now that a tank of gas costs more than the average dinner for two, Chavez wants all the oil he can get his hands on. "

2) Bolivia!
http://news.bbc.co.uk/1/hi/world/americas/4964300.stm

Yep, the above examples are all oil/gas related because that's where the big price moves have been. But we are all hoping this will be duplicated with silver. And I would expect the same actions from these countries - why else has Coeur taken insurance over their Bolivian assets (up to 85% on theirr construction costs?? to protect the lenders!).

CDE is cheap on the basis that San Bartolome (Bolivia) is based in Australia. It is not!! I would almost value CDE without this asset. Their other assets are piddly in comparison.

Coeur is not a turnaround story.

Norm - what are you doing with your millions!!!!!