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Gold/Mining/Energy : JAB International (JABI)

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To: Mr. Miller who wrote (832)	11/3/1997 3:30:00 PM
From: Mr. Miller	Read Replies (3) of 4571

Reviewed some of the press releases. Did BCMD announce losses for quarter ended September 30,1997? I assume they did lose money. In report from q ended 3/31/97, it was indicated that BCMD would continue to lose money(depending on price of Gold) if it did not achieve at least 35 oz. gold/day. Another press release indicated that work at the Ruby Mine in 1992 brought uncharacteristic averages of gold/ton. This reiterates my earlier point. If we hit our expected average of 1 oz.gold/ton, and we are doing 60 tons/day, we should do 60 oz.gold/day which(depending on price of Gold) will be a nice profitable quarter ending December 31,1997. I see no reason why this stock won't move at least by then because of what I have just said(assuming we do 1 oz.gold/ton). Moving to $10 as some have guessed just does not seem that realistic at this point unless there is a great find and that would be where the most uncertainty is at this time. I am beginning to see how this mining stock could increase value slowly over time like any other company. A perk would be another great find like announced on Oct.14th to boost us North. In reviewing the releases, I was impressed with the movement of action in and out of the mine in the time frame compared to the past SEVERAL years. I'm beginning to feel warm and fuzzy about this stock's real potential. I may just buy some here and wait it out till the end of the year. Maybe we'll do 5K to start and average later... Oh, I almost forgot. Passing the mine inspection was a very good thing according to my source. My source said that the gov has strict regulations(which has discouraged mining here in the states to a certain degree) to ensure the safety of the environment. Miller

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