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Gold/Mining/Energy : SRU-ASE : STARFIELD RESOURCES
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To: CIMA who wrote ()3/31/2000 12:01:00 PM
From: winston.s.c   of 1239
 
To: Elect who wrote (904)
From: Brumell Thursday, Mar 30, 2000 11:30 AM ET
Reply # of 930

Just a few notes, elect. I think this play has a long way to go yet. Consider a few aspects. They may at first seem negative, but they aren't.
Firstly, the true width of mineralization is considerably less than many think. For example, hole RV-01 indicates 61.9m but then states mineralization was "intersected between 22-60m" which is 38m overall. The same applies with all holes as they were drilled at a 45 degree angle. Bottom line, true thickness is probably about 50% of that given per hole. We will know better when and if geological sections for each hole are published by PFN.

The above being said, the width is still very good. Then too consider the spacing of these holes. Another positive factor is the apparent rich layering of PGMs evident in these holes. In time we may see richer layers discovered.

These are still very early days in what will be a major program. Considering the number of shares o/s, and FD, today's price is reasonable IMHO. Compared to a few other situations, it's downright cheap.

Many of us questioned economic grades of PGMs being found. I was one of them. Well they have been found and convincingly so. It should get really exciting in the days to come.

Regards,
Bob
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