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Gold/Mining/Energy : JAB International (JABI)

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To: Ryan Weisman who wrote (2906)	2/6/1998 5:14:00 PM
From: Jeffery E. Forrest	of 4571

Took this from my notes. Hope it helps to clear up things inre them thar toothless miners.<GG> How much of the 9 mill are they spending AI would guess all of it? <g> Actually Sterling is now kicking in 17.5 mill including warrants. Immediate costs are for shaker tables, liners, etc. to get milling up to 60 tons per and eventually up to 100 tons per. They also plan on opening up another mine by year end. to get how many tons of rock, Immediate figures would be 9,000 tons in the remnant pillars and 127,000 tons in the Southern wall parallel to the old Golden Gate shute. and how fast can they get it? Plans are to mill 100 tons a day When do they plan on milling at full-force, As soon as weather permits. how will they go about selling their production? They already have a buyer as I outlined earlier. Buyer is paying 98% of spot price for 85% gold in bulk. 20% of what they're mining is super-high grade jewelry gold is being sold for $500 per ounce INCLUDING the quartz that it comes in.

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