APN,T Applied Carbon Technology Message Board

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Gold/Mining/Energy : APN,T Applied Carbon Technology

APN 10.70

+1.9%

Aug 14 9:30 AM EDT

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To: Gerry who wrote (123)	5/11/1998 12:24:00 PM
From: stuart duncan	Read Replies (2) of 175

basically the mine is not profitable as an ongoing operation. with the previous owners much was made of the mine site when in fact it had a low grade of ore on the site to the point where extraction was pointless. the losses of this mine helped make APN a 5 to 7 cent wonder..... some people remeber when APN was ovr 10$ a share! well, this is what happens when development is done without regard to shareholders - one can only speculate as to why ST Gen did what they did (i have my own opinion which i shall keep to myself but i candidly would never entertain investing with that group).... the mine will be closed soon .... a charge was taken in 1997 i believe to account for a mine closure. no matter, there is a plentiful supply stockpiled and agreements are in place for what is needed off into the future. btw - scott has been trying to reach me re: the co. financial statements... i'm going to approve their release so you'll all have them soon i believe - cheers - stu

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