Geo2 Ltd. - Processing & Refining Gold Message Board

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Gold/Mining/Energy : Geo2 Ltd. - Processing & Refining Gold

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To: Chuca Marsh who wrote (39)	10/12/1999 3:43:00 PM
From: richard badauskas	Read Replies (1) of 52

The tests on the non-cyanide process have been completed and the results are now being assayed in Australia. The results should be out within the next month. The CEO is currently in the USA working on a series of JV's. I understand that the ACMR process is applicable to extracting precious metals from computer circuit boards (up to about 90% as opposed to standard refining of boards which I am told is much more inefficient). The Chinese Refinery was breaking even with gold at US$252 and it was becoming difficult to buy concentrates (miners don't want to work at a loss). But at US$300 the refinery can produce 35,000 ozs of gold annually and pay a dividend of A$1M. Several new gold projects are being planned in China, one in Australia and hopefully a project in the USA. The combined output from all five projects should comfortably exceed 100,000 ozs. per annum in 2000. These numbers are guesstimates, we should get more news shortly as the annual general meeting will be coming up in about two months. I will be going to Thailand tomorrow, but should have a better fix on numbers when I return.

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