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Gold/Mining/Energy : PLAYFAIR MINING - PLY . V
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To: geoffb_si who wrote (305)8/18/2001 11:24:12 PM
From: russwinter  Read Replies (1) of 505
 
<reduced the property to roughly 60,000 hectares>

Good, US300 work required and 31K tax a year until March, 2004. Should just maintain property until base metals recover. Demonstrate potential to be low cost, and don't worry about proving up resources. Drill a few cheaper shallow holes in the ripest spots and find a little high grade. I mean EVERYBODY has been talking about some confirmation in 3D with the drill. That will keep it on the radar screens of producers when they need to start replacing and restructuring away from all the marginal production out there (which will happen with a vengeance). Then go for the best JV deal later. Why cut a poor one now, where somebody just sits on it? I'll bet nobody wants to spend the money. Almost all production of zinc worldwide is coming in at an operating loss. Finally cut office/admin. to the bone.
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