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Gold/Mining/Energy : Richland Mines Inc

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To: StockPro who wrote (16)	11/1/1996 10:22:00 PM
From: ed	of 62

I recently received e-mail regarding the price ($U.S) of vermiculite... "According to the Sept. 1996 issue of "Industrial Minerals" (magazine), the price range for vermiculite concentrate (beneficiated, but not yet "popped" in a furnace) was $130 to $200 per short ton, ex-U. S. plant, bulk. I think the $130 per ton corresponds to an average (fine) grade of U. S. material. The coarser grades of vermiculite, which are mostly imported from South Africa, command a higher price." I tried calling Keith Balderson at 1-800-890-8814 to try and get an update regarding the press release but wasn't successful. Hopefully he'll return the message, otherwise I'll try again. I suspect this stuff is cheap to dig up. I don't know what kind of facilities would need to be built beyond the roads and excavation or how expensive they would be (i.e. financing required?). ...Ed

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