Geodex Resources - GXM.V (was Agate Bay ABE) Message Board

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Gold/Mining/Energy : Geodex Resources - GXM.V (was Agate Bay ABE)

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To: GWalker who wrote (6)	11/8/1996 11:04:00 PM
From: Gabe Heti	of 210

I hear they are in town talking to brokers or analysts trying to raise interest, increase the stock price so that when they raise money they won't be diluted more than necessary. They will need $3 million soon, although I thing they have something like $2 million in the treasury. Next time I talk to them I should take better notes. It's hard to calculate reserves since they have only provided rough figures of the extent of the ore body. It would seem that with the amount of drilling already completed they should be able to come to a good estimate. I based my calculation on a 5 sq.km area with a thickness of 60 m, specific gravity of 4, .6% grade, 1/3 usable ore, and 76.5% recovery yields...... 5000m x 1000m x 60m x 4000kg/cu.m x .6/100 x 2.2 lb/kg x 1/3 x 76.5% = 4 billion lbs. They claim to have less than that. I am guessing with the 60m and the specific gravity of 4. You can plug in different numbers and see what you get. With copper prices now over $0.90 things should pick up. Gabe

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