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

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To: Gary S who wrote (4532)	12/20/1997 4:17:00 PM
From: Larry Brubaker	Read Replies (1) of 14226

Gary: I agree that people shouldn't have expected much more from the 50 oz. shipment to Englehard than $5,000. I always figured the theoretical maximum to be $15,000. Based on the very simple assumptions of $300 per oz. of goodies times 50 ounces (assuming that all 50 ounces were goodies). Being the theoretical maximum was $15,000, $5,000 is not unreasonable. The real issue isn't how much they were going to be able to get out of the 50 ounces, it is that they have only managed to make two 50 ounce shipments over the last 6 months or so. GPGI itself has been stating that the real way to make money is to through the leaching process, and had been suggesting that we were soon to be making big progress via that route. Now we apparently (no official company announcement, of course) find out that the refiner who was supposed to be taking the stuff apparently can't process it. So, once again, it seems we are back to square one.

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