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Technology Stocks : Xenolix Technologies (XTCI) 'Ecstasy'(Formerly MGAU)
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To: Char who wrote (3873)5/27/1999 1:45:00 PM
From: Claude Cormier  Read Replies (2) of 5143
 
<The company has decided to spend their money on increasing production rather than on proving the amount of reserves in the cinder cone.>>

Time will tell if this is the good decision.

With the kind of grade they have, they would only need to prove up 30,000 tons to get the $3M they need to expand. To prove this up would need 4 holes drilled at each corner of a 25 meters cube, for a total cost of $20,000....double or triple for COC with a Stratchona, MRDI or Lakefield if you want... that is still very cheap.

As for the risk of seeing the J/L process exposed... there is very little. COnfidentiality agreement to exist. And even if there is a leak, the risk of another miner using it on a large scale is small to none. No reputable miners would risk a lawsuit.

BTW, have they tried to see if the process is patentable. Looks to me that this should have been done a long time ago.
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