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Gold/Mining/Energy : ORXX - Orex Gold Mines Corporation
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To: Ga Bard who wrote (951)8/27/1999 7:48:00 PM
From: Tim Hall  Read Replies (2) of 2392
 
Gary,

I am trying to give you all of the help I can. I just sent this letter to the President of ORXX. You might mention to him in your next conversation that he should address these issues ASAP. By the way, I am on vacation today, I only spent three hours in the office. VBG

Mr. Warren Hemedinger
President, Orex Gold

Dear Mr. Hemedinger:

As a shareholder of ORXX I am extemely worried about this company. Not only can you not explain the stock action but you have not reported any of the basic fundamentals. I would encourage you to update the shareholders as soon as possible with respect to the following:

1. What was the actualy price paid for Santa Maria Mining? Was it shares or cash?

2. What are the reserves at Santa Maria. I want to see how many holes were drilled and what are the grade intercepts for those holes.

3. I know that Phelps Dodge has closed all of their smelters in Arizona so what are the prospects for the sale of any silica.

4. I also know that no action has been taken to activate the ground water protection permit and upgrade it to an Aquafer Protection Plan. I believe this process might take longer than one month. What is being done to implement this as soon as possible.

5. It is my understanding that the mine and mill are on land which the state of Arizona has responsibility for surface management. If that is the case Orex will have to obtain a reclamation permit and post a reclamation bond. How soon will this be done.

6. What are the companies estimate for mining and milling costs of the underground gold deposits at Santa Maria?

I will be posting a copy of this letter on both the Silicon Investor and on Raging Bull. I think it is imperative that the company address these issues as soon as possible.

Thanks for your attention to these issues.

Timothy L. Hall P.E.
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