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Gold/Mining/Energy : Phoenix Gold Resources (V.PHO)
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To: virginijus poshkus who wrote (164)2/6/1998 1:53:00 PM
From: Ron Struthers  Read Replies (1) of 285
 
I don't think they have any drilled off reserves. The vein is exposed and the silver is there. The real purpose here is to create a cash flow because the market is poor to raise capital. However this could change as silver prices stay firmer.

Once the cash flow begins then more exploration can be funded. This also helps prevent share dilution once this PP is done

Ron
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