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Gold/Mining/Energy : JAB International (JABI)

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To: Mr. Miller who wrote (1277)	11/19/1997 12:10:00 PM
From: D.McQ	Read Replies (1) of 4571

Mr Miller...I enjoy reading your posts. . It is obvious you put a lot of work into each and every one of them.. You always seem to come up with something new and challenging and I like that. You always seem to try to post two different viewpoints. Your input just like many others on this thread makes me stop and think. I appreciate that and would like to thank you for doing so. In response to your last post, I agree it will be interesting to see what the difference is between mining companies like ECO and BCMD. The projected production numbers of 240,000 to 250,000 for only 2 of ECO's mines is right around the 200,000 I was expecting for 5 of BCMD's mines. I am well aware that different geological configurations will result in different production costs and results. However, the information you provided helps me put things in different perspective. I can now better understand why BCMD is saying that 200,000 is a minimal production estimate. Especially in light of the fact that my research continues to indicate that BCMD is ultra conservative in their statements and projections. I am looking forward to hearing what BCMD projects as their costs for opening new mines. From what I understand there are many variables to be taken into consideration and each company's figures are entirely different. I hope they release that information soon. Without a definite news release addressing this, all we can do is speculate. As far as a $35 mil dollar JV announcement goes...I cetainly hope it isn't that high. Your post is the first time I have heard that there is a possibility of the JV amount being higher than14.5 mil...... If BCMD is indeed negotiating the most favorable terms, then I would rather see a smaller JV amount with the split in BCMD's favor....too high of a JV amount can put us in a less favorable postion in many ways. To me it is quite simple.....The more a JV puts in ....they more they want in return. Not just more of the pie but also more control. In my opinion a JV putting in less money and receiving less than 50% would show that BCMD is indeed very confident about the postion they are now in. To get the percentage amount to drop even a little means the amount they put in would also hve to drop. If BCMD is finding what they are rumored to be finding then a lower JV deal etc. would also make me anticipate higher than anticipated production numbers in the very near future....not 4-5 years down the road. As we all know that is one of the reasons we are so anxiously awaiting the JV announcement....whatever it ends up as being will tell us alot about the strength and weaknesses of BCMD...the JV will have access to confidential information we can only speculate about... Darlene

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