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Gold/Mining/Energy : Global Platinum & Gold (GPGI)

GPGI 24.83

-0.8%

3:59 PM EST

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To: J.E.Currie who wrote (2013)	3/7/1997 8:12:00 PM
From: J.E.Currie	of 14226

March 6, 1997 To all Investors and potential Investors in GPGI From Richard E, Jensen, President of Global Platinum + Gold (GPGI) ROYAL MINT OF BELGIUM REPORTS ASSAY RESULTS ON GPGI SLUDGE Settlement reports from the Eastern refinery and the Kitco refinery based on small test quantities of processed material by GPGI, have proven that commercial levels of Pt,Pd and Au are present in sufficient quantities to exceed costs of production by a wide margin. Very recent assays recieved from the ROYAL MINT of BELGIUM based on a small sludge sample, returned values very close to in-house refinery assay values. In addition to Pt, Pd & Au the Belgium mint showed rhodium. The values returned extrapolate back to the enhanced ore at a value higher than previously reported from refiners at $2500. per ton. These positive results from the refineries have not yet been reflected in a rise in the market price of the stock commensurate with the improving value of the company. This is because GPGI does not spend money on PR. It puts its money into the development of the company and the improvement of its procedures. The results justify this method of operating. As of now GPGI has 7 anode sludge tanks on line and by mid March will have 14 on line. Presently it is producing 2-3 pounds of sludge per day. It is running one to two smelts per day. As you can see it is not in a production mode. But there is no doubt that what can be done on a small scale can be expanded to a large scale with no loss of efficiency or return because scaling up does not require the expansion of the production system; it means just adding more units to the existing production system. GPGI can achieve a 20% return by leaching. It needs further development to achieve precipitation of the leach product which will eliminate unwanted metals. Once achieved, the leach product can be run directly through the in-house refinery bypassing the need for smelting. This will be a simplier way of recovering precious metals. Until that development is reached the Company plans to expand its anode sludge and smelting process to move to a production mode. As you are aware, the reserves on the Hassayampa, the Weaver Creek and the Oro Grande are vast and, for all practical purposes, inexhaustable. Financing for the company to ramp up to a production mode is imminent. ON BEHALF OF THE BOARD OF DIRECTORS Richard E. Jensen President and Chief Executive Officer

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