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Gold/Mining/Energy : Minvita Enterprises Ltd. - MVE.v
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To: Chris W. Karch who wrote (7)11/12/1996 12:39:00 AM
From: Darryl Kadonaga   of 56
 
Chris, with the complexity of the structure and another 30 holes still to come, its pretty tough and too early for armchair geology (in my case anyway). The widths and grades vary significantly which makes it all the more difficult. Therefore, any estimate of reserves would simply be a wild guess on my part. Having said that, here is my wild GUESS: we will likely see a reserve number between two and three hundred thousand ounces. In my opinion, that would be very positive. They have only drilled a small portion of the structure so eventually, they should define reserves many times the number. As far as I can tell they have not yet decided whether to release a reserve calculation with the Phase III results. I assume if the reserve numbers are included, you can probably expect a delay in the release.
Regards,
DK
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