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 (769)	1/6/1999 1:06:00 AM
From: James N. Wilson	Read Replies (1) of 1319

The earnings from a 1500 tpd operation would be significant if the costs could be lowered to the US$200 levels. I would guess something along the order of 100,000 - 125,000 ounces per year with cash flows approaching C$20 million. Assuming the speculated reserve count pans out.. the combined FD market cap of both companies (approx. US$10 million) to ounces in the ground would tip the scales at roughly US$4.50 per ounce of Glimmer high grade gold. With a bit of good news on several pending fronts it would be no surprise to see the volatile, thinly traded shares of GME vault to much higher levels. Share holders of EXL will see nice rewards. james

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