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Gold/Mining/Energy : Global Platinum & Gold (GPGI)
GPGI 22.13-5.9%3:59 PM EST
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To: Jafco who wrote (5169)2/24/1998 11:35:00 PM
From: Bob Walsh  Read Replies (2) of 14226
 
Jafco, although you did not direct your post to me I will respond.
My post 5141 did not negate all of my post 5125 -only a few minor parts:
- While the weight of the dore bars in the tank was incorrect, the actual weight is not that important to us. We are more interested in (1)how much value GPGI can recover (and get paid for) in a given time period, (2) how easy is it to ramp up production, (3) how profitable will increased production be, and (4) what is the probability of the recovered value improving.

- Process: time to convert sludge to PGMs. This is important. AuRIC has committed to a 30 day turnaround for payment. This (if it happens)is far better than any previous refiner.

- Additional tanks. Yes this is important since this is one of the key factors in increasing production. GPGI did not want to commit to a specific number at this time. Also while GPGI did not want to put down a specific dollar amount for the costs of increased production, the wild guess of $10,000 gives a ballpark amount which even if it were to be doubled (not suggesting that it would be) would still provide a good low cost for production increase.

The above are the only points associated with earnings.

I am still waiting for the results of AuRIC's PGM conversion.

Regards,
Bob
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