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Gold/Mining/Energy : Vantage Enterprises Inc - VEC on Vancouver
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To: Mark Bartlett who wrote (6)11/7/1996 5:22:00 PM
From: Tom McIlwain   of 1476
 
Hi Mark. I think perhaps the article I copied portrays a overly gloomy picture of the situation there. It has to be remembered that it was an editorial and therefore one person's viewpoint. Anyway, the local situation does bear watching and my intention was to pass on a way to do that through the internet.

On the good side, I have come across nothing in the local news that would indicate that any of the problems to the north in Zaire are likely to spill over to Zambia, at least in the short term.

Turning to the company, I really don't see a ceiling for this thing in the longer term once everything gets underway. All the earnings projections I have seen so far have only taken the amythest mine into acount. I am beginning to realize more and more that this gem cutting facility in India is going to add tremendous additional value - not only for amythest produced at the company mine, but for other precious and semi-precious stones that they can pick up rough cut from other mines in Zambia. It was interested to see in the last news release that they have contracted gem cutters to use until the facility is set up next spring. Interesting! Then if you start factoring in emeralds!! As I say I have no idea how far this thing could go if they can continue to keep share dilution to a minimum.

Two questions:

1. Where did you get the value of $14,250 per metric tonne for the amythest? I have come across valuations ranging from $7,000 to over $20,000 and am trying to get a handle on where all these numbers are coming from.

2. Do you happen to know who the other investment analysts are, in addition to Doug Casey, who are currently touring the facility?
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