This taken off Rex's web site from Q's &A's
Hello!
I am a proud shareholder in
Rex Mining. Let me begin by
commending the company on
its professionalism and
concern for the interests of its
shareholders. Serge definitely
has my blessing if he opts to
keep buying shares!
I have a couple of relatively
brief questions I was hoping
you could help me out with.
First, has the jigplant from
S.A. arrived in Mauritania? If
so, is it currently in
operation? Is any drilling
currently going on?
Finally, when can we expect
an update?
Second, how are South
African operations going? Is
the company generating
profits in our S.A.
operations? Perhaps an S.A.
update would be helpful?
Third, has the company's
status in Sierra Leone
changed in the last 12-18
months? If so, how? How
optimistic is Rex about the
political/military
situation at this point?
Obviously, human lives are
of utmost importance so I,
again, commend Rex for its
cautious apprach to S.L.
Personally, I would rather
lose money than be
associated with a firm that
want only put workers' lives
at risk.
Thank-you for the time and
effort you put into
responding to these questions
and, once more, thanks for
paying attention to the little
guys and
gals who ardently hold (and
continue to accumulate) Rex
stock.
Sam.M.
april 21, 1999
Dear Sir,
Herewith an operational
update for you.
SOUTH AFRICA
South African production has
picked up. Restructuring has
reduced costs by 50 %.
Bellsbank is already turning
net profitable, Ardo is
improving fast. North Blow is
back in production, its first
large sized stones (>30 cts)
were produced lately.
Second quarter is expected to
be positive in SA as a whole.
MAURITANIA
The jig plant for testing the
diamond content of the near
surface gravels in the
Paleochannel of the Touajil
region has arrived in the
beginning of April and was
put in operation on
Wednesday, April 28. Daily
concentrates are accumulated
and will be shipped to Cape
Town for diamond analysis.
The first 100 high targets were
trenched and 18 potential
positive samples of trenching
material are to be shipped to
Lakefield's lab in Canada next
week for chemical analysis.
The ground EM in the high
target zone is now complete.
Sampling results from
Tenoumer are expected in
next weeks.
Felix Kaminsky, consultant
geologist of reknown working
with Moscow labs, is due to
submit his report on the
surface texture of the
macro-diamonds to indicate
their provenance and their
distance from the primary
source.
SIERRA LEONE
The political situation is
evolving positively. Cautious
optimism is advised. Sierra
Leone always had the
potential to surprise whenever
it is least expected.
ANTWERP
PR efforts is ongoing towards
large off-shore funds. Interest
is keen.
SALES AND MARKETING
Now that all outstanding
facilities with diamond dealers
have been settled by REX, we
are developing various
programs of marketing our
diamond production including
E-commerce.
Thank you for your interest!
Best regards |
