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Gold/Mining/Energy : Global Platinum & Gold (GPGI)

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To: BGraham who wrote (4453)	12/13/1997 7:00:00 AM
From: Bob Walsh	Read Replies (2) of 14226

Gordon and all. Dick has known that refiners have been a problem. Why he thought this time was different I don't know. Dick has often been silent but decided to post the up-beat message prior to the group visit to the refiner last weekend. Then when it didn't happen the way he thought, he became silent again. He has talked about setting up his own refinery rather than rely on outside refiners and I believe he is working on that. His operation has been pretty much self sustaining for a long time with minimal stock dilution as a result. While he has his flaws (as we all do), he has kept the operation going for a long time and has made considerable advances. Since Dick has control, he has to decide when to bring in some new blood which would be a drain for a while with no guarantees of long term benefit. Since I do not think that we are in a race with the other DD companies, what is a few (BG) months more since we have gone on for a long time as it is. Certainly I would feel more comfortable if positive things were happening on a regular basis. Regards, Bob

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