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Gold/Mining/Energy : Global Platinum & Gold (GPGI)
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To: Bob Walsh who wrote (6996)8/17/1998 5:56:00 PM
From: Bob Walsh  Read Replies (3) of 14226
 
To all - Status:

- 4th shipment: going out in a day or two.

- First payment from Sabin: probably due this week.

- break even point: the break even point on cash flow is about $16,000 per week. Shipments to Sabin through this week and next will have been based on completely processing approximately 15 tons per week (4 days) which should yield about $6000 to $8000 per shipment. The shipment week after next should be based on completely processing approximately 30 plus tons per week which should yield about $12,000 to $16,000 (paid about 30 days thereafter). Thus GPGI may hit break even in about 45 days.

- resin columns: the additional 4 resin columns (beyond the original 4) were delayed but are expected to be installed this week (the necessary tank and plumbing has been installed). To increase the resin columns beyond 8 will require the purchase of an additional tank for every 4 resin columns.

- ball mill: the bearing has been ordered and may be in within a week. Since ore had previously been processed through the ball mill and stockpiled, the mill being out of commission has not slowed down total production.

- Nobel Metals: they have returned any sludge and/or dore bars that they had to GPGI.

- AuRIC: they still have not returned the sludge, dore bars and equipment to GPGI.

Regards,
Bob
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