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Gold/Mining/Energy : Delgratia Mining (DELGF)
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To: Randy Giese who wrote (190)4/13/1997 7:48:00 PM
From: Eric Tai   of 532
 
Hi Randy,
Will try to answer a few of your questions but must first clarify
that I am only a small amateur investor with no geology or mining
background.

1) The holes are so far apart because they are used only to see whether the big gold anomaly area they have really has any economical
amount of gold there. If they find some area that does not
have any gold there, they will just drop that area and concentrate
on the other area. So it is not used to prove or define gold
resources, but just to have a knowledge on where the gold is on this
big area. They will need much more drillings to prove the reserves.

2) The news releases of DELGF make it quite clear that they will
own 70% of the property if they paid out all the shares/cash required
to the vendor.

3) The desert sand plays are only a name about the several small
mining companies in the desert area. It does not mean they are
all the same. Just like Indonesia plays only refer to those companies
exploring in Indonesia -- their properties may be totally differently
geologically -- some may explore for gold while others for copper.
In the desert sand plays, some companies may have difficulties
in standard fire assays and/or recoveries while the others
such as Maxam and DELGF may have no problems at all about them.
Some may have clay material while other may be sand like.
Some companies may be looking for gold while the others
on platinum group metals (PGMs).
When one company has problems does not necessary mean that all will
have problems. And even if one company may succeed, the others
may still fail. Should look at each of them individually.
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