Exall Resources/Glimmer Resources Message Board

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Gold/Mining/Energy : Exall Resources/Glimmer Resources

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To: James N. Wilson who wrote (723)	11/30/1998 12:33:00 AM
From: Winzer	Read Replies (1) of 1319

James, You're right. I forgot the currency conversion. And this is one time that I am glad that I made a mistake, because I like your numbers better than the ones that I put up. Regarding the life of the mine. I actually had 5.7 years based on present reserves. But; the way Rudy B. was talking many months ago, it appears that once drilling gets into full gear the 10 to even 20 year time horizon may not be out of the question. But for some reason, exploration drilling is seen as a necessary evil. Sometimes mines even STOP drilling in order to save money. So if we have the reserves for 20 years, I suspect we won't know that until we are 15 years in to the mining. So all we can do is have fun with the variables (i.e. tpd, ore grade, recovery, milling days, EXL/GME splits etc) until they get their own mill on the Glimmer site then watch the cost per ounce drop by ~$ 25-30/oz?. Cheers Winzer

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