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Gold/Mining/Energy : Exall Resources/Glimmer Resources
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To: James N. Wilson who wrote (1053)9/10/1999 10:14:00 AM
From: Winzer  Read Replies (1) of 1319
 
Could be; but if there is one thing that SBR know IMHO is lawyers. And I would hazard that he probably knows the specifics and/or options better than anyone of them (probably explains why he is in the kaka that he finds himself in). The custom milling problem was cited as a problem in our previous banter. The decision to change was probably mutal. By the time you take into account the retooling requirements to the Macassa Mill (which may have been idle for a while), six months is to XL's credit, a comfortable changeover. Lead times for special (e.g. grinding, flotation etc) circuits take at least that long, unless the metallurgy is so simple that they can by-pass previously installed circuits. And, I sure that when they went shopping for another custom mill (even years ago as a Loss Control fire at SAS contingency) most of the variables would have been knows.

It was also announced by Bill Jackson that SAS was looking to process their own ore, which brought about this discussion in the first place. So I suspect that this change would be neutral to positive on costs. (confirmed by market reaction after PR). Not sure what the haulage cost difference would be. If Bill J is reading, I'm sure he can enlighten us.

Then again this can be material because of the possibility of being sued for breach of contract; but somehow, I will wait for Bill comments, but I don't think so!

Winzer
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