SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1 )*
Golden Cycle Gold Corporation
-----------------------------------------------------
(Name of Issuer)
Common Stock, no par value
-----------------------------------------------------
(Title of Class of Securities)
380894 10 5
-----------------------------------------------------
(CUSIP Number)
Check the following box if a fee is being paid with this statement [ ]. (A fee
is not required only if the filing person: (1) has a previous statement on file
reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7.)
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
<PAGE>
CUSIP No. 380894 10 5 13G Page _2 of 14 Pages
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Midas Fund, Inc. - 41-1536110
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ X ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Maryland
- --------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES -0-
BENEFICIALLY --------------------------------------------------------------
OWNED BY 6 SHARED VOTING POWER
EACH 285,500
REPORTING --------------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH -0-
--------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
285,500
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
285,500
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
16.314%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IV
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE>
CUSIP No. 380894 10 5 13G Page 3_ of 14 Pages
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Bull & Bear Gold Investors Ltd. - 13-6059519
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Maryland
- --------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES -0-
BENEFICIALLY --------------------------------------------------------------
OWNED BY 6 SHARED VOTING POWER
EACH 57,500 shares
REPORTING --------------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH -0-
--------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
57,500 shares
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
57,500
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
3.286%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IV
<PAGE>
CUSIP No. 380894 10 5 13G Page 4of 14Pages
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Midas Management Corporation - 13-3823733
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES -0-
BENEFICIALLY --------------------------------------------------------------
OWNED BY 6 SHARED VOTING POWER
EACH See response to Item 4
REPORTING --------------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH -0-
--------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
See response to Item 4
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
See response to Item 4
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
See response to Item 4
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IA
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE>
CUSIP No. 380894 10 5 13G Page 5 of 14 Pages
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Bull & Bear Advisers, Inc. - 13-3368426
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES -0-
BENEFICIALLY --------------------------------------------------------------
OWNED BY 6 SHARED VOTING POWER
EACH See response to Item 4
REPORTING --------------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH -0-
--------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
See response to Item 4
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
See response to Item 4
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
See response to Item 4
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IA
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE>
CUSIP No. 380894 10 5 13G Page 6 of 14 Pages
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Bull & Bear Group, Inc. - 13-1897916
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES -0-
BENEFICIALLY --------------------------------------------------------------
OWNED BY 6 SHARED VOTING POWER
EACH See response to Item 4
REPORTING --------------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH -0-
--------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
See response to Item 4
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
See response to Item 4
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
See response to Item 4
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
HC
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE>
CUSIP No. 380894 10 5 13G Page 7 of 14 Pages
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Bassett S. Winmill - ###-##-####
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES -0-
BENEFICIALLY --------------------------------------------------------------
OWNED BY 6 SHARED VOTING POWER
EACH See response to Item 4
REPORTING --------------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH -0-
--------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
See response to Item 4
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
See response to Item 4
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
See response to Item 4
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE>
Page 8 of 14 Pages
Item 1. (a) Name of Issuer:
Golden Cycle Gold Corporation
(b) Address of Issuer's Principal Executive Offices:
2340 Robinson Street
Colorado Springs, Colorado 80904
Item 2. (a) Name of Person Filing:
Midas Fund, Inc.
Bull & Bear Gold Investors Ltd.
Midas Management Corporation
Bull & Bear Advisers, Inc.
Bull & Bear Group, Inc.
Bassett S. Winmill
(b) Address of Principal Business Office:
11 Hanover Square
New York, NY 10005
(c) Citizenship:
Midas Fund, Inc. - Maryland corporation
Bull & Bear Gold Investors Ltd. - Maryland corporation
Midas Management Corporation - Delaware corporation
Bull & Bear Advisers, Inc. - Delaware corporation
Bull & Bear Group, Inc. - Delaware corporation
Bassett S. Winmill - U.S.A.
(d) Title of Class of Securities:
Common Stock, no par value
(e) CUSIP Number:
380894 10 5
<PAGE>
Item 3. If this statement is filed pursuant to Rules 13d-1(b), or
13d-2(b), check whether the person filing is a:
(a) [ ] Broker or Dealer registered under Section 15 of the
Act
(b) [ ] Bank as defined in section 3(a)(6) of the Act
(c) [ ] Insurance Company as defined in section 3(a)(19) of
the Act
(d) [X] Investment Company registered under section 8 of the
Investment Company Act
(e) [X] Investment Adviser registered under section 203 of the
Investment Advisers Act of 1940
(f) [ ] Employee Benefit Plan, Pension Fund which is subject
to the provisions of the Employee Retirement Income
Security Act of 1974 or Endowment Fund; see Section
240.13d-1(b)(1)(ii)(F)
(g) [X] Parent Holding Company, in accordance with Section
240.13d-1(b)(1)(ii)(G)
(h) ( ) Group, in accordance with Section 240.13d-
1(b)(1)(ii)(H)
Mr. Winmill may be deemed a controlling person of Bull & Bear Group,
Inc., which is the parent company of Midas Management Corporation and Bull
& Bear Advisers, Inc., each of which is an investment adviser registered
under the Investment Advisors Act of 1940. Midas Management Corporation is
investment adviser to Midas Fund, Inc., which is an investment company
registered under the Investment Company Act of 1940. Bull & Bear Advisers,
Inc. is investment adviser to Bull & Bear Gold Investors Ltd., which is an
investment company registered under the Investment Company Act of 1940. Mr.
Winmill is filing this statement jointly with the other parties to this
statement solely as a result of his ability to exert control over Bull &
Bear Group, Inc., which may be deemed to give Mr. Winmill the ability to
exert control over Midas Management Corporation and Bull & Bear Advisers,
Inc., which may in turn be deemed to exert control over Midas Fund, Inc.
and Bull & Bear Gold Investors Ltd., respectively.
<PAGE>
Page 9 of 14 Pages
Item 4. Ownership.
(a) Amount Beneficially Owned
Mr. Winmill and Bull & Bear Group, Inc. do not own of record any shares of
the issuer's Common Stock. However, Bull & Bear Group, Inc., as the parent
company of Midas Management Corporation and Bull & Bear Advisers, Inc., which
are investment advisers to Midas Fund, Inc. and Bull & Bear Gold Investors Ltd.,
respectively, may be deemed to have the power to exercise or to direct the
exercise of voting and/or dispositive power with respect to shares of the
issuer's Common Stock held by the respective investment companies. Mr. Winmill,
as the controlling person of Bull & Bear Group, Inc., may also be deemed to have
the power to exercise or to direct the exercise of voting and/or dispositive
power with respect to shares of the issuer's Common Stock held by the investment
companies. All shares reported herein have been acquired by Midas Fund, Inc. and
Bull & Bear Gold Investors Ltd., and Mr. Winmill and Bull & Bear Group, Inc.
specifically disclaim beneficial owership over any shares of the issuer's Common
Stock that they or Midas Management Corporation or Bull & Bear Advisers, Inc.
may be deemed to beneficially own.
As a result of their roles as investment advisers to Midas Fund,
Inc. and Bull & Bear Gold Investors Ltd., respectively, Midas
Management Corporation and Bull & Bear Advisers, Inc. may each be
deemed to be the owner of shares of the issuer's Common Stock held by
the investment company for which it serves as adviser.
The filing of this statement shall not be construed as an admission that
Midas Management Corporation, Bull & Bear Advisers, Inc., Bull & Bear Group,
Inc. or Mr. Winmill are, for purposes of Sections 13(d) or 13 (g) of the
Securities Exchange Act of 1934, as amended, the beneficial owner of any shares
covered by this statement.
Midas Fund, Inc. 285,500
Bull & Bear Gold Investors Ltd. 57,500
(b)Percent of class:
Midas Fund, Inc. 16.314%
Bull & Bear Gold Investors Ltd. 3.286%
Page 10 of 14 Pages
<PAGE>
(c)Number of shares as to which such person has:
(i) sole power to vote
or direct the vote
Midas Fund, Inc. 0
Bull & Bear Gold Investors Ltd. 0
(ii) shared power to vote or
to direct the vote
Midas Fund, Inc. 285,500
Bull & Bear Gold Investors Ltd. 57,500
(iii) sole power to dispose or to
direct the disposition of
Midas Fund, Inc. 0
Bull & Bear Gold Investors Ltd. 0
(iv) shared power to dispose or to
direct the disposition of
Midas Fund, Inc. 285,500
Bull & Bear Gold Investors Ltd. 57,500
Item 5. Ownership of Five Percent or Less of a Class.
If this statement is being filed to report the fact that as of the date hereof
the reporting person has ceased to be the beneficial owner of more than five
percent of the class of securities, check the following [ ].
Item 6. Ownership of More Than Five Percent on Behalf of Another Person.
Not Applicable.
Item 7. Identification and Classification of the Subsidiary which Acquired
the Security Being Reported on By the Parent Holding Company.
Not Applicable
<PAGE>
Page 11 of 14 Pages
Item 8. Identification and Classification of Members of the Group.
Not Applicable
Item 9. Notice of Dissolution of Group.
Not Applicable
Item 10. Certification.
By signing below the undersigned certify that, to the best of their knowledge
and belief, the securities referred to above were acquired in the ordinary
course of business and were not acquired for the purpose of and do not have the
effect of changing or influencing the control of the issuer of such securities
and were not acquired in connection with or as a participant in any transaction
having such purpose or effect.
Page 12 of 14 Pages
<PAGE>
Signature.
After reasonable inquiry and to the best of my knowledge and belief, the
undersigned certify that the information set forth in this statement is true,
complete and correct.
Date: January 9, 1997
MIDAS FUND, INC.
By: /s/ Thomas B. Winmill
-------------------------------
Name: Thomas B. Winmill
Title:Co-President
BULL & BEAR GOLD INVESTORS LTD.
By: /s/ Thomas B. Winmill
-------------------------------
Name: Thomas B. Winmill
Title:Co-President
MIDAS MANAGEMENT CORPORATION
By: /s/ Thomas B. Winmill
-------------------------------
Name: Thomas B. Winmill
Title: President
BULL & BEAR ADVISERS, INC.
By: /s/ Thomas B. Winmill
-------------------------------
Name: Thomas B. Winmill
Title: President
BULL & BEAR GROUP, INC.
By: /s/ Thomas B. Winmill
-------------------------------
Name: Thomas B. Winmill
Title:Co-President
/s/ Bassett S. Winmill
- -----------------------------------
Bassett S. Winmill
Page 13 of 14 Pages
<PAGE>
Exhibit A
Joint Filing Agreement
In accordance with Rule 13d-1 (f) under the Securities Exchange Act of
1934, the persons named below agree to the joint filing on behalf of each of
them of a statement on Schedule 13G (including amendments thereto) with respect
to the Common Stock of Golden Cycle Corporation and further agree that this
Joint Filing Agreement be included as an Exhibit to such joint filing. In
evidence thereof, the undersigned hereby execute this Agreement as of the 7th
day of June, 1996.
MIDAS FUND, INC.
By: /s/ Thomas B. Winmill
-------------------------------
Name: Thomas B. Winmill
Title:Co-President
BULL & BEAR GOLD INVESTORS LTD.
By: /s/ Thomas B. Winmill
-------------------------------
Name: Thomas B. Winmill
Title:Co-President
MIDAS MANAGEMENT CORPORATION
By: /s/ Thomas B. Winmill
-------------------------------
Name: Thomas B. Winmill
Title: President
BULL & BEAR ADVISERS, INC.
By: /s/ Thomas B. Winmill
-------------------------------
Name: Thomas B. Winmill
Title: President
BULL & BEAR GROUP, INC.
By: /s/ Thomas B. Winmill
-------------------------------
Name: Thomas B. Winmill
Title:Co-President
/s/ Bassett S. Winmill
- -----------------------------------
Bassett S. Winmill
Page 14 of 14 Pages
