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Gold/Mining/Energy : Nora NXI on ME
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To: Dominique Daoust who wrote (251)9/28/1998 7:56:00 PM
From: Hesham El-Adly  Read Replies (1) of 420
 
HI Dominique,

Having be patient myself for quite a bit of time, only to see the price going down, here is my thought:

It is great to have RESERVE, and Nora is extremely good at buying concessions with HUGE POTENTIAL. How come the market does not respond to that?

But.. things are going slowly with respect to the PRODUCTION side.

Otjua is in my opignon much easier to mine than the deep water concessions. This is where we should concentrate first.I personaly will not be opposed to a more aggressive mining of the Otjua concession. Nora, HOW is doing the Creepy Crawler?

The deep water concessions are another matters. We need a partner there with resource/experience.

What is the corporate plan for say the next five years in term of investment and production figure? I know such a plan exists, and it should be made public to shareholder. 98 production forecasted 50000 carats. How far are we from these numbers?

Information does not come by easily. I suspect the negotiation between DIAZ and NAMDEB, related to a new contract between the parties, has something to do with the little information we have WRT actual production numbers. Or they are too bad to be released...

Well, it is been a frustrating year to date, but I am ready to wait and see a little longer.

DN
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