GITENNES Exploration (ase:GIT) Message Board

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Gold/Mining/Energy : GITENNES Exploration (ase:GIT)

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To: charred who wrote (1042)	11/9/1998 9:53:00 PM
From: E. Charters	Read Replies (2) of 1092

I know you haven't spent 3 hours on the phone with Gerry Blackwell discussing the situation and I have. I am not an armchair dreamer. It is obvious the pod effect is the result of the artificial down grading of the results away from the drill holes by the overly conservative RPA. What you are seeing is some artist's interpretation of the geology and not the real thing. They simply could not get enough holes in place to determine the grade. That doesn't give you the right to say it isn't there. One thing is for sure. Drilling never proved a negative. If you don't drill don't talk no. I will agree on one thing. Blackwell has no mine developing experience and no sedimentary mountain drilling experience. Otherwise he would have changed horses a long time ago. You don't need consultants to tell you how much gold you have. That is a mistake. If you have 400 feet of .10 ounces per ton on the surface it just doesn't go away. the had plenty of good good holes and good zones. This last report was the kiss of death. I would not have even published it. When I talked to Blackwell in 1996 he and I estimated 1.5 million on the Rio Suro alone. And that was on 400 feet of mining lift. I still believe those figures can be found. I don't think I would sell ounces for $20.00 an ounce. The forward sale deals that Dome and Barrick are getting that should be declared illegal as they depress the price of gold are far north of $300.00. This system has to collapse as they form a cabal with the Banks to manuipulate the price so only they can mine it. Gold used to be judged at $50.00 an ounce in the ground. In the early eighties Echo Bay used to buy ore at $30.00 an ounce. But no Canadian Gold mining producer was valued at less than 85 dollars an ounce in 1996. Now that figure is about $45.00 and ounce. But It is a damn site better than 20 bucks. I use $30.00 US conservatively as a bottom share price figure. At that Gitennes could be worth $3.06 CDN. But I will admit it is a matter of perception. Right now they have done little to erase the perception that they are worth that much and less to prove it competently it would seem. Perhaps it is on purpose. EC<:-}

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