Exall Resources/Glimmer Resources Message Board

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Gold/Mining/Energy : Exall Resources/Glimmer Resources

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To: James N. Wilson who wrote (508)	2/22/1998 8:02:00 PM
From: Winzer	Read Replies (2) of 1319

The NM article says that "mineable reserves most recently pegged at 731,169 tonnes grading 12.9 grams gold. The deposit remains open at depth and along strike." So here goes: 731,169 t x 12.9 g/t = 9,432,080 g, then @31.103g/oz =303,253 ounces. then @ 65,000 oz per year = ~ 4.7 years. This puts my calculations at 25,000 ounces less. Unless I made a wrong assumption somewhere. Anyway I would guess that this arguement is moot because the "deposit remains open at depth and along strike" could be quite a significant statement. If the SI rumours of shaft and mill on site are true this could mean that the ounces per year could be higher than 65,000. And at that grade it would not take many tonnes to do this. I still believe that the only positive aspect of this disagreement is that they have managed (inadvertently) to keep the price low for insiders and shareholders convinced that this play has some merit. I'm having a good run with TMI on Vancouver at present, and could be looking to plow some "profits" into the EXL camp. Cheers Winzer

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