Gran Colombia Resources Inc (TSE.GRM) Message Board

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Gold/Mining/Energy : Gran Colombia Resources Inc (TSE.GRM)

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To: Michael Brody who wrote (13)	11/7/1996 8:56:00 PM
From: Eric Tai	of 308

Michael, you are right. There is a lot of confusion about the Marmato property. Yes, Gran Columbia has the undisputed right of the top part of the property. Mineros Nacionales has the bottom part of the property. For the bottom part of the property : Mineros Nacionales owns 100% of the property. Gran columbia buys 48.25% OF Mineros Nacionales. Mineros de Antioqua owns 51.75% of Mineros Nacionales Then Corona Gold gets a 50.1% working interest on it . Conquistador owns 50% of Corona Gold. So the final result for the bottom part of Marmato: Gran Columbia will have interest of 48.25% * 49.9% = 24.1% Conquisdator will have interest of 50.1% * 50% = 25% Gran Columbia has the undisputed right of the top part of the property and they have been drilling on that property now. I agree that it may turn out to be more than the inferred block of 3.7 m oz. Also they still have other properties in the Marmato gold district and in other parts of Colombia with interesting potential I am not too familiar with the other properties of Conquistador. But I think if we agree with Doug Casey that Gran Columbia is the one with great potential in Columbia, this is all we have to look at right now. Eric

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