Phoenix Metals U.S.A. - PMTU Message Board

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Gold/Mining/Energy : Phoenix Metals U.S.A. - PMTU

PMTU 25.63

-1.7%

12:13 PM EST

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To: Chuca Marsh who wrote (12)	9/25/1998 11:43:00 PM
From: banco$	Read Replies (2) of 80

Ah Chucaposta! Phoenix company info. and production details will be presented shortly when PMTU achieves its milestone(s), as has been the case over time. Phoenix Metals' practice is to present completed operational segments rather than fragments, and fortunately the usual several year wait between exploration and operation is almost done with. The operational centerpiece of dore' production is complete, whereas the front-end concentration and back-end finishing segments have been in progress for several months; hence the soft share prices in the meantime. I do not wish to cause conflict with official production rates and final yield figures which are to be released in the future -- beyond the fact that PMTU can run a several hundred pounds of dore' per day at this point in time. My own opinion is obviously favorable. The finished precious metal breakdown is primarily PGMs (about 60-70%) and gold (about 20%) along with some silver as I understand things. Phoenix Metals may answer specific questions over the phone. If the company is unable to answer some questions by phone, the calls will likely improve content of corporate press releases and reduce the need for further Q&As. Oh yes, a minor comment about trading. Phoenix's shareholders do not appear to be eager to sell as evidenced by the four or five major drops in the U.S. averages this year. Of those declines, at least two in excess of 300 points and two more in the 500 point range - not one share was sold that I recall, and on one of those days, there were minor purchases & price increase. The stock tends to trade rather independent of the broad market; it moves when and where it wants. Volume and technicals looked good early this year when the first metal pours commenced, then came the balance of construction. We await progress reports. Regards, banco$

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