(last updated 04/15/99)
Does GPGI have gold and platinum group metals in abundance that can be
recovered economically and make an investment in this stock worthwhile?
GPGI has been working since 1982 to come up with methods to recover
substantial percentages of the precious metals from the properties they
control. Various independent sources [ Thomas Report - see
(#reply-7838116), Fischer Report for Inco and Brian Russell COC report -
see 3/30/98 news release at globalplatinum.com] all apparently
have verified through standard methods the presence of economically
recoverable quantities of precious metals. GPGI believes that via non
standard methods it can recover far greater quantities of precious metals
than appear to exist via use of standard methods.
GPGI has stumbled over the last 5 to 10 years with mistakes and poor
production and testing controls. Recently a major shareholder who has a
background in chemistry, mining and management has taken over
responsibility for GPGI production. Recent assays of samples both by Sabin
Refining as well as GPGI's lab have shown recovery of large amounts of gold
and PGMs [see 4/5/99 news release at globalplatinum.com and also
translation to market values at (#reply-8716091)].
GPGI has three properties in Arizona which are the Hassayampa, Weaver Creek
and Oro Grande:
Hassayampa : primarily a 7.5 acre area containing about 600,000
tons of screened ore as a result of a prior gravel operation on the same
property. Going to a depth of 64 feet on this 7.5 acre area would add 1 to
1.5 million tons of unscreened ore. The 7.5 acre area is on a 100 acre
tract owned by C & W Mining and leased to GPGI. All of GPGI's production
facilities are on this land.
Oro Grande 1,200 acres including the old mine: about 150 acres
owned by GPGI and about 1,000 acres consist of claims owned by GPGI.
Weaver Creek 2,500 acres controlled via lease by GPGI
In the April 5, 1999 Report to Shareholders it was stated:
"Significant progress has been accomplished ..."
"The assay results from Sabin Metal Corporation confirm that we can
extract gold, silver and platinum group metals from our ores."
"Our process over the past month has improved in efficiency and has
resulted in a
lowering our production costs."
The above reported assay results on 5 samples by Sabin which ranged from
6.51oz to 10.79oz Au and PGMs per ton of screened ore plus silver (0 to
45.8oz). Using those results, the market values would be range from $2,939
to $5,012 see (#reply-8716091).
Additional Information pertaining to Oro Grande and Weaver Creek
"The actual story starts back at the turn of the century when in the Oro
Grande mine (located in Wickenburg, Az) was shipping gold and silver to the
San Francisco mint. It was common knowledge in the mining community that
the Oro Grande had substantial reserves remaining when it was abandoned in
the early 1900's. However, the real value of this mining site wasn't
realized until the mid 1980's."
"Initial reports, assays, confirmations, recommendations, etc., exceeded
the wildest imagination of all concerned. Both the Oro Grande and the
Weaver Creek (a secondary ore deposit site) had platinum and PGMs that were
more than world class. In an article in Investors Business Daily of
February 26, 1988 it was revealed that GPGI had leased 1,150 acres around
the Oro Grande and had tested 150 acres of this property. Although only a
fraction of this lease had been tested, the results showed that proven,
probable and possible reserves were worth an estimated in-the-ground value
of $81 billion."
"A geological report was conducted by Inco in 1991 on GPGI's properties and
a portion of the conclusion is quoted in full: "... there exists a wealth
of anomalous high grade PGM analyses which are extremely unlikely to be
produced by salting and therefore should be taken seriously. Although the
scatter of PGM values is extreme and in some cases even the order of
magnitude is in question, certain metal ratios are impossible to be
manufactured and therefore are considered to reflect natural samples.
Inhomogeneity of PGM distribution is considered as one of the major reasons
for the wide scatter of values." "
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I have been a shareholder in GPGI since May 1996. I have no other
relationship to GPGI and have never received any shares, money or other consideration from GPGI or anyone associated with them. The statements within quotation marks were made by others who have written about GPGI. I am making no recommendation concerning GPGI. Judge for yourself. |
