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Gold/Mining/Energy : Global Platinum & Gold (GPGI)

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To: Richard Mazzarella who wrote (8917)	12/29/1998 5:14:00 PM
From: Ed Fishbaine	Read Replies (2) of 14226

Richard When you say you do not like the Hassayampa ore pile and have confidence in >their other property< are you refering to the Oro Grande, the Weaver Creek or both. Regarding the Weaver Creek the estimate of reserves are based on the same procedures as for the Hassayampa. By the way the Hassayampa pile contains 1.1 million tons of enhanced ore, not 500,000. The sampling that was done all over this pile had a variation within acceptable limits as far as homogeneity is concerned. This was also true for the Weaver Creek. One other point: why do you accept the guessing that the net from 10 ounces of precip will yield 1 ounce per ton? Whatever remains from the 10 ounces is being stored for further treatment when procedures to extract higher values are developed. Also, my expectation is that the initial recovery will far exceed 1 ounce. McKay is moving along. There have been terrrible inadequacies at the mill for years thanks to Jensen's inadequacy. This is being turned around but give it some time. McKay is not throwing the towel into the arena as Zeev thinks may happen. He is using the towel to wipe up the mess he found.

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