International Precious Metals (IPMCF) Message Board

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Gold/Mining/Energy : International Precious Metals (IPMCF)

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To: Randy Giese who wrote (1367)	1/13/1997 11:19:00 PM
From: Alan Vennix	of 35569

Randy, (1) I think this is a matter of conjecture since the companies have not yet developed a reliable and consistent analysis method to determine content of gold and PGM's. Nor have they surveyed their properties, area and depth, to be able to calculate reliable reserve values. Numbers appearing in some of the posts are (generally) opinions of individuals based on taking some assumed richness values and multiplying by guesstimates of volumes. Having said that, there are some that think that Naxos deposits may be richer than IPM/GPGI, but there is no reliable estimates to base that on. (2) Not familiar enough to answer this one, but if a proprietary process is developed by one company that could be used on other deposits, I would expect that licensing arrangements could be possible. Also, I would expect that these processes are difficult to keep a secret, and a company with good research capabilities, or with a good consultant, could design a workable process that bypasses the original proprietary/patented process. (This is based on my experience in areas other than mining, but IMO it would apply here also.) Al

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