Exall Resources/Glimmer Resources Message Board

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Gold/Mining/Energy : Exall Resources/Glimmer Resources

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To: CLK who wrote (731)	12/7/1998 2:24:00 PM
From: James N. Wilson	Read Replies (1) of 1319

CLK - I asked the GME CEO that question several months ago. The feelings then was that the mine is operating on a break-even basis and there was no concern about the earnings. Obviously the last QTR was in the black and things are looking much better at the Glimmer Mine. However, depending upon the outcome of the settlement percentages will be rolled back to before Jan 1, 1997 and everything will be re-calculated. Glimmer feels the case is very strong that EXL's interests in the mine fell below 50% by late Dec. 1996 and they will become the operator of the Glimmer Mine. jw

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