GEOMAQUE Message Board - Msg: 15505103

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Gold/Mining/Energy : GEOMAQUE

GEO 14.93

+0.6%

Nov 12 4:00 PM EST

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To: TrueScouse who wrote (222)	3/14/2001 8:32:36 PM
From: Edmund Lee	of 260

GEOMAQUE EXPLORATION ( GEO ) On Toronto. Recommended April 1998 at $ 2.50 interim high $ 3.10 current price $ .50 Rating ( BUY ) to $ .80 per share The company has two main gold properties. The San Francisco open pit heap leach gold mine in Mexico. The company has been able to reduce cash costs to around $200 U.S. per oz from $250 U.S. per oz in 1998. Production for 00 looks to be near 70,000 oz gold. Recent exploration has outlined three small deposits that are twice the average grade of the San Francisco mine. The company is looking at mining these small deposits in the current environment of low gold prices in the year 2000 with production estimated at 95,000 oz for the San Francisco mine and then return to mining the main pit in 2001. The company's other property is the Vueltas Del Rio gold deposit in Honduras. The company was able to complete the rights offering and this property will now be brought into production in 2000 at a cost of below $180.00 U.S. per oz. Production startup is scheduled by the end of the first quarter 2000 with estimated production for 2000 at 40,000 oz gold. This number will rise to 60,000 oz for 2001 and total production for 2001 will be 130,000 oz at around $200.00 U.S. per oz. Shares outstanding 53.6 million, fully diluted 59 million after the rights offering with $4.3 million cash. For more info Ph 416 - 956 - 7470 or www.geomaque.com investorsfirst.com

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