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Gold/Mining/Energy : GMD RESOURCE
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To: VAUGHN who wrote (858)2/12/1999 1:09:00 PM
From: Dave R. Webb  Read Replies (1) of 1030
 
Vaughn

You are probable more than aware that you can do many things to advance a target prior to diamond drilling. Targets that have been defined by mag could be checked by em, then by ip, then by mt or any number of letter. Each test is reasonable and may be warranted, but the point you seem to be raising is "enough is enough". Fair enough.

A company's mission statement or vision has to be defined. Is it a company's interest to:

a. make a lot of money for its shareholders
b. find a kimberlite
c. find a lot of kimberlite
d. explore a property
e. find an economic kimberlite
f. find an economic deposit.
.....

There are tremendous differences in how one would approach each of these seemingly similar, or perhaps sequential goals. For example, a mandate to explore a property is a waste of everyone's time and money, unless you've got some serious backers who don't care about money. To make a lot of money for your shareholders is too vague to be anyone's vision except some deluded gambler.

There has been a shift in the vision of the management. To think otherwise would be be to neglect the significant differences in the people involved. This shift has changed the focus of the exploration of the Royce Group from a short term goals-oriented project with commensurate rewards to a longer term one goal-oriented project.

As for the analysts or industry wags...I think you answered that question with your "Keep the NR's coming bi-weekly ON A POPULAR WIDELY READ NEWS WIRE!!!!"

We'll do our best. Changes are happening.

Dave
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