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Gold/Mining/Energy : Manhattan Minerals (MAN.T) -- Ignore unavailable to you. Want to Upgrade?

To: Elizabeth Andrews who wrote (2948)	7/9/1999 11:23:00 AM
From: Claude Cormier	Read Replies (1) \| Respond to of 4504

Elizabeth, <<But, in your due diligence don't you routinely go and inspect the drill core of company's you invest in and recommend? >> No more than you do when you bring forward everything that could go wrong in a mining play but leave behind all the positives. >>What if exfoliation exists in the host (hanging wall), pyritic or not, which could result in spalling and severe mining problems? Wouldn't this be obvious whilst inspecting the drill core as the rock pressure is thereby released? >> Can you mention to me a few VMS deposits where chemical or physical forces have caused this exfoliation problem on a scale large enough to be a show stopper in term of mine development. I am not aware of any but, again, I have nothing against adding to my knowledge.

To: Elizabeth Andrews who wrote (2948)	7/9/1999 12:35:00 PM
From: Bruce Robbins	Read Replies (1) \| Respond to of 4504

Elizabeth, This is getting very funny. Put that dictionary down- it is dangerous. First and foremost, "exfoliation" is a form of mechanical weathering common in granites. The weathering part of the definition means this phenomenon occurs ONLY on surface. Exfoliation and spalling have nothing to do with mining unless you are exploring for building stone. Second, if there is so much of a problem with "pressure", how can any underground mine remain in operation? How do those mine workings stay open? How does the ore, extracted from miles below in most flat-lying South African gold deposits, keep from exploding when brought to surface? Do these South African mines have "changing grades" between the orebody, several miles below and the mill? Elizabeth, in your funny way of explaining things, you do have a very good point though. The fact that the TG-3 is flat-lying is significant because TG-3 will have to be extracted underground. That means that the stopes in an underground operation will have to be mined by room and pillar. There could be some dilution because they may have to leave pillars, BUT, in the modern world of mining, we do something called back-filling. Back-filling means that the processed material will be brought back down to fill in the mined sections of the stopes. With this method, most of the pilars can be recovered, hence the dilution becomes negligable. Back-filling will increase the mining cost, but most underground mines are using back-fill. The cost will be factored into the feasibility. MAN is far from attempting a feasibility study on TG-3.

To: Elizabeth Andrews who wrote (2948)	7/9/1999 12:58:00 PM
From: Gerald Walls	Read Replies (1) \| Respond to of 4504

But, in your due diligence don't you routinely go and inspect the drill core of company's you invest in and recommend? What if exfoliation exists in the host (hanging wall), pyritic or not, which could result in spalling and severe mining problems? I suppose that you routinely go and inspect the drill core or companies that you short sell? So you've done this and have seen for yourself that the bugaboo that you're raising exists? Or are you just trying to spread FUD?