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Gold/Mining/Energy : Global Platinum & Gold (GPGI)
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To: stanley new who wrote (9763)3/17/1999 2:47:00 PM
From: Ed Fishbaine  Read Replies (1) of 14226
 
Stanley

The reserves are immense. The Hassy has 500 million to over 1 billion tons of head ore (depending on the estimate you use) on site with 15 million tons of raw ore down to 30 feet available. The stuff probably goes down hundreds of feet and gets richer with depth.

The Weaver Creek has 100 million tons of raw ore marked off, again down to 30 feet. The Weaver is somewhat richer than the Hassy but the Hassy was used because it eliminated the cost of trucking from the Weaver to the mill.

The Oro Grande is a hugely rich lode mine with ore down to 750 feet and no bottom yet reached. It is probably the best of GPGIs properties and the ownership is the only smart thing that Jensen ever did.

Ore reserves are not the problem. They are practically endless. What is the nexus of this situation is economic extraction. McKays numbers are fabulous but can they be duplicated, or even approached by outside verification? He has discarded the esoteric catalyst procedure and opted for more standard extraction procedures with perhaps some innovations in his pre treatment of the ore and what he refers to as furnacing practices. This is encouraging because it suggests that outside evaluations can more readily follow the assaying procedures now being used in contrast with the problems of getting outst sources to duplicate the previous procedures, This suggests thaty the odds now favor good a response from outfits like Sabin. But we will know at the end of this month.

Incidentally, my bet is that tests 21 and 22 came from the Oro Grande as my first choice, and the Weaver Creek as my second.

Regards,

Ed
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