PHILEX GOLD INC (PGI) - TSE.... Trading at under 30% book Message Board

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Gold/Mining/Energy : PHILEX GOLD INC (PGI) - TSE.... Trading at under 30% book

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To: Robert Salasidis who wrote (15)	8/2/1999 5:35:00 PM
From: Braincramp	of 86

E-mailed Philex the other day. Looks like they are producing just under 4000 tons of ore per day at an average grade of 2.3 grams, making the operations positive on an operating cash flow basis at this point in time. Also they are developing the next block for production, which is expected to be ready to commence mining late this year. Philex is expecting a grade of over 3 grams per ton from the new area, causing the cash flow situation to improve. Over all things look positive at this time even with the low gold price.

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