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Gold/Mining/Energy : Exall Resources/Glimmer Resources
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To: Rob who wrote (869)3/24/1999 7:47:00 PM
From: E. Charters  Read Replies (1) of 1319
 
The people in BC who run most of the junior mining exploration companies are for the most part the car salesmen of mining. They are not competent prospectors, engineers or geologists. They are mostly paper pushers. They do not understand eastern mining, geology or costs. When I told some western geos that Dome mines was mining 0.12 ounces per ton underground and making a profit they did not believe it or said that it was because Dome "had its infrastructure in place". I explained that Dome had spent 80 million on their Mill in 1987 and another 75 million on the open pit and infrastructure later in the 90's which was the equivalent of building a completely new mine and that they were mining .055 ounce per ton open pit at 10,000 tons a day they still didn't get it. When I told them that Freewest, Holt McDiarmid, Glimmer and Battle Mountain were modern mines built on underground situations and that the Holt was making money hand over fist at .18 ounce per ton underground on a brand new mill they still didn't get it. They just did not understand. I tried to sell the Glimmer deal and the Aquarius open pit to these mouth breathers since 1992. It's hopeless. Even the ones with degrees in mining have no idea or are crooked. The dominance of the mining juniors by the VSE will be the death of mining.

EC<:-}
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