Exall Resources/Glimmer Resources Message Board

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Gold/Mining/Energy : Exall Resources/Glimmer Resources

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To: E. Charters who wrote (767)	1/5/1999 2:00:00 AM
From: James N. Wilson	Read Replies (1) of 1319

Glimmer Mine results for the 9 months ending 9/30/98 indicate positive cash flow of $1,620,708, milling 225,916 tonnes of development ore grading 6.63 g/t. The mineable reserve grades are closer to 10 g/t. It would certainly seem that with an improved mining plan to feed the mill these higher grades the costs could be brought well below US$200 per ounce. I would think these unfolding events could have a major impact on share prices of GME/EXL. Glimmer appears to have the makings to move from a boot-strap operation to a world class producer. Open pit could be an option. GK considered this before EXL came in and decided against. However, given the anticipated size of the deposit this might be considered. james

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