Vantage Enterprises Inc - VEC on Vancouver Message Board

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Gold/Mining/Energy : Vantage Enterprises Inc - VEC on Vancouver

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To: GWD who wrote (1414)	2/22/1998 12:34:00 PM
From: D. Usry	Read Replies (1) of 1476

jerry are you saying they are producing 50 tons of amethyst or processing 50 tons of raw ore--there is a HUGE difference. for those of you interested, the material at Kalomo can be broken down as follows: Run of the Mine---material directly recovered from the amethyst bearing vein. Rough sorted---material washed and screened and non amethyst bearing rock removed. Fine sorted-material where individual stones are examined possibly knocked to remove unwanted material and sorted into the required grades. Amethyst export grade--High grade (facet material), Medium grade (cabachon/beading) and low grade. 10 tons of run of the mine material produces 1 ton of rough sorted. 1 ton of rough sorted produces approx. 20kg high grade, 200 kg medium grade, 400 kg low grade and 380kg waste. in other words for every 10 tons of raw ore you process, you get 2/10ths of 1% facet grade material, 2% is suitable for beading and the rest you might as well crush and make roads out of it. In fact that is exactly what they do. the roads down there have a strange sparkling sheen from all the low grade crystal that comprises their "gravel". My biggest concern has been "Where's the revenue". Im not even looking for positive earnings, just a sign that revenue is flowing into the treasury and not just out of it. As far as the company being a play on Zambia, that is exactly the same thing that was said about another company--Colossal Resources. The same management controls both companies. There are a lot of people in Zambia (especially the unemployed cobalt facility workers in kabwe) who would challenge your assessment of Vantage. According to my calculations 50 tons of run of the mine material would produce the following GROSS REVENUE (before costs) 50 tons run of the mine======5 tons of rough sorted 5 tons rough sorted=========100 kg high grade @ $150 US/kg or $15,000 ============================1000 kg medium grade @ $100/kg or $100,000 ============================2000 kg low grade @$40/kg or $80,000 If they are truly selling what they are producing where is the $195,000 a month. If you take the export crystal to India to cut then you of course get a higher price for the finished stone but at what additional cost?

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